Facebook Q1 revenue growth slows but stronger than expected

 Facebook on Tuesday reported its slowest quarterly growth as a public company, pressured by a global slowdown in digital vertising market due to coronavirus pandemic.

social network, like Google on Monday, said it’s feeling squeeze from global pandemic but expects to wear it with modest long-term effects.

Facebook said it earned $4.9 billion, or $1.71 per share, in January-March quarter. That’s more than double $2.43, or 85 cents per share, it reported in same period a year earlier.

Revenue rose 18% to $17.74 billion from $15.08 billion.

Analysts polled by FactSet were expecting earnings of $1.74 per share and revenue of $17.34 billion.

Facebook's stock shot up more than 7 percent in after-hours tring after results came out.