2018.04.2521:00:00UTC+00Facebook’s Quarterly Results Shows Resilience after Data Scandal

Facebook Inc shares jumped after the social network posted a surprisingly solid 63 percent surge in quarterly profit and increase in user base, with no indication that the business was affected by a scandal over the mishandling of data of its users.

The company was embroiled in the Cambridge Analytica scandal, which affected up to 87 million users and caused CEO Mark Zuckerberg to issue several apologies, has also prompted calls for regulation and for users to boycott the social network. However, there was not indication advertisers immediately changed their spending on the company.

The firm's quarterly profit topped analysts' projections, as a 49 percent surge in quarterly revenue oustripped a 39 percent rise in expenses from a year prior. The mobile ad business expended in a push to add more video content.

Facebook said monthly active users in the first quarter increased to 2.2 billion, up 13 percent from a year prior and matching estimates. The firm reverse previous quarter's decline in the number of daily active users in the U.S. and Canada, stating it had 185 million users in the locations, up from 184 million in the fourth quarter.

Net income attributable to Facebook shareholders increased in the first quarter to $4.99 billion or $1.69 per share, from $3.06 billion or $1.04 per share, a year prior. Analysts expected a profit of $1.35 per share.

Overall revenue was $11.97 billion, above analyst projection of $11.41 billion.

Shares of the company traded up 7.1 percent in after hours trading at $171, reversing some of the losses the company incurred since Facebook's disclosure in March of the CA data breach.