(CNBC) — Facebook’s stock first dropped, then rose, after the company reported earnings that beat investor expectations Wednesday.
CFO David Ebersman also said he would step down from the company on June 1st, to be succeeded by David Wehner, former CFO of Zynga.
The company reported earnings of 34 cents per share ex-items, on revenue of $2.5 billion. Analysts had expected the company to report earnings excluding items of 24 cents a share on $2.36 billion in revenue, according to a consensus estimate from Thomson Reuters.
Re/code reported that CFO Ebersman would likely return to the healthcare space, where he was before coming to Facebook.