<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Facebook (FB) on Wednesday reported quarterly advertising revenue that spiked 17% year over year and a jump active users, a reflection of the platform’s growing clout as the coronavirus crisis plunges the world into a deep recession.” data-reactid=”16″>Facebook (FB) on Wednesday reported quarterly advertising revenue that spiked 17% year over year and a jump active users, a reflection of the platform’s growing clout as the coronavirus crisis plunges the world into a deep recession.

Here are the key metrics expected by Wall Street, according to a Bloomberg consensus forecast:

  • Diluted earnings per share: $1.71 vs $1.71 expected

  • Revenue: $17.74 billion vs. $17.3 billion expected

  • Ad revenue: $17.4 billion vs. $17.1 billion

  • Daily active users: 1.73 billion vs. 1.68 billion

  • Monthly active users: 2.68 billion vs. 2.34 billion expected

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Like its search counterpart Google (GOOG), Facebook derives a significant chunk of its money from advertising, and as such is viewed as a proxy for the coming downturn in ad revenues as companies retrench. Also in line with its peers, Facebook is declining to provide forward looking guidance given the still-evolving coronavirus pandemic.” data-reactid=”24″>Like its search counterpart Google (GOOG), Facebook derives a significant chunk of its money from advertising, and as such is viewed as a proxy for the coming downturn in ad revenues as companies retrench. Also in line with its peers, Facebook is declining to provide forward looking guidance given the still-evolving coronavirus pandemic.

At the outset of the crisis, Facebook saw a “significant reduction in the demand for advertising,” but characterized the first three weeks of April as showing “signs of stability.”

The company added that “April trends reflect weakness across all of our user geographies as most of our major countries have had some sort of shelter-in-place guidelines in effect.”

Analysts at Bank of America, which maintains a “Buy” rating on the stock, wrote recently that the social platform was expected to keep showing strong utilization amid the pandemic, and that a range of new services would yield “material monetization opportunities ahead.”

Credit Suisse also rates the stock highly, as an “Outperform” given Facebook’s potential for surprisingly robust ad revenue as it introduces new products like Instagram Checkout and a search option for Marketplaces.

“Street models are too conservative and underestimate the long-term monetization potential of other billion-user properties like Messenger and WhatsApp, optionality for faster [free cash flow] growth on greater efficiency on content screening/security costs,” the bank added.

The stock, which ended Wednesday’s session more than 6% higher above $194, soared by an additional 6% in after-hours trading.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Javier David is an editor for Yahoo Finance. Follow Javier on Twitter:&nbsp;@TeflonGeek” data-reactid=”31″>Javier David is an editor for Yahoo Finance. Follow Javier on Twitter: @TeflonGeek

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Read the latest financial and business news from Yahoo Finance” data-reactid=”32″>Read the latest financial and business news from Yahoo Finance

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