Facebook Stock Is Still an Absolute Bargain

Facebook (NASDAQ: FB) shattered estimates in its first-quarter earnings report.

Revenue soared 47.6% to $26.2 billion, lapping a pandemic-impacted quarter a year ago and breezing past analyst expectations of $23.7 billion. Facebook's growth was driven by a 30% increase in ad prices and a 12% uptick in impressions. The emergence of the Oculus also padded results as revenue in its "other" segment jumped 146% to $732 million.

There were signs coming into the report that digital advertising had surged in the first quarter. Advertisers are preparing for the economic reopening and shifting budgets to digital channels to take advantage of the increase in screen time during the pandemic, which has clearly benefited Facebook. Additionally, the company's execution in areas like e-commerce helped drive better-than-expected growth.

Source Fool.com