Meta (formerly known as Facebook) was the latest tech giant on deck report its quarterly earnings results today. The company just closed out its Q4 2022, ending its fiscal year, and it seems to have done well from an overall revenue standpoint. The company was able to handily beat expectations, posting a winning quarter to cap off its FY 2022.
Meta posted its Q4 2022 earnings results via its investor relations website on February 1, 2023. The company put up an impressive quarter when it came to its overall revenue. The company was expected to post a Q4 2022 revenue of $31.5 billion USD. Instead, it overachieved by putting up an actual revenue of $32.2 billion.
Meta was a little less successful in its earnings-per-share (EPS). The company posted a diluted EPS of $1.76 per share. This was short against a Wall Street analyst expectation of $2.22 per share and an earnings whisper expectation of $2.25 per share. However, Meta also attributed this shortcoming to the costs of its layoffs in November in which the company cut around 11,000 employees:
Despite that loss reportedly due to layoffs and the miss on EPS, Meta enjoyed success at its bottom line for revenue. As we continue to report on company earnings results this season, stay tuned for more reporting on Meta and further companies here at Shacknews.