Facebook shares up 3% after Facebook shares its earnings

Facebook shares revenue, earnings and profit.

The social network reported its first quarter earnings, which beat Wall Street expectations.

The company posted $3.8 billion in revenue for the three months ending March 31.

Analysts had expected $3 billion, according to FactSet.

The company’s earnings per share of $1.11 are down from $1,721 a year earlier.

Earnings per share are calculated based on the weighted average of a company’s common shares outstanding for the past 12 months.