(Reuters) – Facebook Inc beat market expectations for quarterly revenue on Wednesday, powered by higher ad spending by businesses during a pandemic-induced surge in online traffic.
Total revenue, which primarily consists of ad sales, rose to $26.17 billion in the first quarter ended March 31, beating analysts’ average estimate of $23.67 billion, according to IBES data from Refinitiv.
(Reporting by Noor Zainab Hussain, Sheila Dang and Elizabeth Culliford; Editing by Arun Koyyur)
