Facebook beats revenue estimates for Q1 earnings with $1.46 billion, misses on profit

Facebook announced $1.46 billion in revenue Wednesday for the company’s first quarter of 2013, narrowly beating analyst estimates of $1.44 billion in revenue. The company saw first-quarter earnings of $0.12 per share excluding one-time charges, compared to analyst expectations of $0.13 per share. The first quarter revenue of $1.46 billion compares to revenue of $1.18 billion from the same quarter of 2012.

Facebook saw monthly active users hit 1.11 billion as of March 31, 2013, an increase of 23 percent increase over last year. Daily active users hit 665 million on average for March, compared to the 1.06 billion monthly actives and 618 million daily actie users reported in December 2012.