Facebook first quarter earnings slightly above estimates

Facebook posted first quarter earnings slightly above estimates on Wednesday.

The group reported adjusted first quarter earnings of 42 cents per share against an estimate of 41 cent per share, while its user count was now 1.44bn, up 3.6% quarter-on-quarter.

However, the social media giant's first quarter sales fell slightly below estimates, as the group reported first quarter sales of $3.54bn, up 41.6% year-on-year, but below the $3.56bn that analysts had expected.

Facebook shares were down 0.54% in after-hour trading.