Check out the companies making headlines after the bell Wednesday:
Shares of Facebook were boosted after the social media company reported more active users and posted quarterly earnings that were well above analyst estimates. The company reported adjusted first-quarter earnings of 77 cents per share on revenue of about $5.38 billion. Analysts had expected Facebook to report earnings of about 62 cents per share on $5.26 billion in revenue, according to a consensus estimate from Thomson Reuters.
Facebook also reported Wednesday that monthly active users, a key metric for the company also known as MAUs, were 1.65 billion at the end of the first quarter. Wall Street had only expected 1.63 billion, according to StreetAccount. The earnings announcement included a proposal that would create new class C shares, a move that could allow Facebook CEO Mark Zuckerberg to liquidate some of his shares while maintaining control in the company.