Facebook beats earnings, but misses on revenue

Julia Boorstin joins ‘Closing Bell’ to report Facebook’s quarterly results. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Facebook shares rose more than 3% in extended trading on Monday after the company reported better-than-expected third-quarter earnings even as revenue missed analysts’ estimates.

Facebook also said it’s increasing its share buyback program by $50 billion.

Here are the results.

Earnings: $3.22 vs $3.19 per share expected by analysts, according to Refinitiv.
Revenue: $29.01 billion vs $29.57 billion expected by analysts, according to Refinitiv.
Daily active users (DAUs): 1.93 billion vs. 1.93 billion expected by analysts, according to StreetAccount.
Monthly active users (MAUs): 2.91 billion vs. 2.93 billion expected by analysts, according to StreetAccount.
Average revenue per user (ARPU): $10.00 vs $10.15 expected by analysts, according to StreetAccount.
The company announced its plans to break out Facebook Reality Labs into its own reporting segment starting

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