Facebook sees signs of stability in ad spending, beats revenue estimates

Shares of the world's biggest social network, which owns WhatsApp and Instagram, jumped 9% in extended trading.

Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday and said it has seen "signs of stability" for sales in April after a plunge in March, in yet another indication that tech giants may weather the coronavirus-induced economic collapse better than other sectors.

The company said advertising revenue was roughly flat in the first three weeks of April compared with the same period last year, a tentative early sign of recovery following a "steep decrease" in March revenue as lockdowns took effect worldwide to slow the spread of the virus.

Shares of the world's biggest social network,