Meta surpassed market expectations with revenue of $28.7 billion in the first quarter of this 12 months.
Meta, the father or mother firm of Fb, introduced its monetary knowledge for the January-March interval.
Accordingly, the firm’s revenue in the first quarter of this 12 months elevated by 3 p.c in comparison with the similar interval of the earlier 12 months and rose to $ 28.7 billion.
Meta had revenue of $27.9 billion in the first quarter of 2022. The corporate exceeded expectations with these knowledge.
On this interval, the firm elevated its revenue after the decline in 3 consecutive quarters.
Meta’s earnings are down
Meta’s internet revenue fell 24 p.c in the first quarter of this 12 months to $5.7 billion. The corporate introduced a revenue of $ 7.5 billion in the first quarter of 2022.
Meta’s Actuality Labs unit, which is accountable for the growth of metaverse applied sciences, additionally made a lack of $3.99 billion in the first quarter of this 12 months, after a lack of $13.7 billion in 2022.
The variety of day by day energetic customers of Fb elevated by 4% on an annual foundation as of March, reaching 2.04 billion.
The variety of month-to-month energetic customers of the social networking website elevated by 2 p.c to 2.99 billion in the similar interval.
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