Facebook, Inc. (FB) has reported a 76.29 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $3,064 million, or $1.04 a share in the quarter, compared with $1,738 million, or $0.60 a share for the same period last year.
Revenue during the quarter surged 49.24 percent to $8,032 million from $5,382 million in the previous year period. Gross margin for the quarter expanded 114 basis points over the previous year period to 85.57 percent. Total expenses were 58.58 percent of quarterly revenues, down from 62.65 percent for the same period last year. This has led to an improvement of 408 basis points in operating margin to 41.42 percent.
Operating income for the quarter was $3,327 million, compared with $2,010 million in the previous year period.
"We had a good start to 2017," said Mark Zuckerberg, Facebook founder and chief executive officer. "We're continuing to build tools to support a strong global community."
Operating cash flow improves significantly
Facebook, Inc. has generated cash of $5,058 million from operating activities during the quarter, up 45.47 percent or $1,581 million, when compared with the last year period.
The company has spent $5,891 million cash to meet investing activities during the quarter as against cash outgo of $1,676 million in the last year period.
The company has spent $992 million cash to carry out financing activities during the quarter as against cash outgo of $310 million in the last year period.
Cash and cash equivalents stood at $7,104 million as on Mar. 31, 2017, up 10.04 percent or $648 million from $6,456 million on Mar. 31, 2016.
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