Facebook and Instagram’s parent company, Meta (META), exceeded analysts’ expectations in its first quarter earnings report released on Wednesday, while also increasing its forecast for the current quarter. After hours trading saw an 11% surge in Meta’s shares.
Here are the key numbers from Meta’s Q1 earnings compared to Bloomberg’s analyst estimates:
Meta’s actual revenue for the first quarter was $28.65 billion, exceeding the estimated revenue of $27.67 billion.
EPS: $2.20 actual versus $2.01 estimated
Advertising Revenue: $28.1 billion actual versus $26.76 billion estimated
The actual revenue for Meta’s Family of Apps was $28.3 billion, exceeding the estimated revenue of $26.88 billion.
Reality Labs Operating Losses: $3.99 billion actual versus $3.8 billion estimated
This is a developing story, and further updates will follow.
