Meta Platforms Reports Strong Q1 Earnings, Surpassing Expectations

(RTTNews) – Meta Platforms, Inc. (META) posted a notable profit in its first quarter, showing a significant increase from last year and exceeding analyst expectations.

The company reported a net income of $16.644 billion, equating to $6.43 per share, compared to $12.369 billion, or $4.71 per share, during the same period last year.

Analysts had anticipated earnings of $5.22 per share on average, excluding special items in their estimates.

In addition, revenue for the quarter grew 16.1%, reaching $42.314 billion, up from $36.455 billion the previous year.

Meta Platforms, Inc. earnings at a glance (GAAP):

• Earnings: $16.644 billion vs. $12.369 billion last year.
• EPS: $6.43 vs. $4.71 last year.
• Revenue: $42.314 billion vs. $36.455 billion last year.

Guidance: The revenue guidance for the next quarter is projected between $42.5 billion and $45.5 billion.

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