SAN FRANCISCO (MarketWatch) - Facebook Inc. /quotes/zigman/9962609/delayed/quotes/nls/fb FB +1.50% on Wednesday reported a first-quarter profit of $642 million, or 25 cents a share, compared with a profit of $219 million, or 9 cents a share, for the year-earlier period. Revenue soared to $2.5 billion from $1.46 billion. Adjusted profit was 34 cents a share. Analysts polled by FactSet on average were expecting the Menlo Park, Calif.-based company to report a profit of 24 cents a share, on revenue of $2.36 billion. Facebook shares were up more than 2% after hours. The company also announced that Chief Financial Officer David Ebersman was stepping down. He will be replaced by David Wehner, currently vice president for corporate finance.
Facebook crushes estimates, stock rises
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By Benjamin Pimentel