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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