'We have an important role to play for both people who use the platform but as well as for businesses,' Facebook CFO David Wehner said when asked if the company is using this moment to convince the public that Facebook is an essential tool amid Covid-19.
Analysts surveyed by Refinitiv expect $1.75 in earnings per share and $17.41 billion in revenue for the first quarter. However, comparing Facebook's results against analysts' estimates is not straightforward given the coronavirus pandemic's impact on economies around the world.
"We know economists are calling broadly for a GDP contraction in Q2 that's pretty substantial globally," Wehner told CNBC's "Closing Bell." "We know that advertising tends to be very sensitive to the macroeconomic climate. We really have a very cautious outlook on how things are going to develop."The company's revenue came in at $17.74 billion, up nearly 18% from the $15.08 billion the company reported in the first quarter of 2019.
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