Facebook Beats First-Quarter Estimates; CFO Stepping Down

Facebook handily beat Wall Street's estimates for its first quarter and announced its CFO, David Ebersman, is stepping down.

Ebersman will be replaced by former Zynga CFO David Wehner

"David has been a great partner in building Facebook, and I'm grateful for everything he's done to help make the world more open and connected," Facebook CEO Mark Zuckerberg said in a press release. "David set us up to operate efficiently and make the long term investments we need, and built an incredibly strong team including Dave Wehner, our next CFO. I look forward to working with Dave in his new role." Read more...