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Facebook (META) Q1 2023 earnings results beat revenue & EPS expectations

Facebook (META) is out with its latest earnings report, showing a beat on revenue and EPS.

Donovan Erskine

April 26, 2023 1:46 PM

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The blitz of financial news this week continues as Facebook (META) has reported its earnings for Q1 2023. The report highlights the performance of the company’s various divisions over the first three months of the year. In the earnings release, we see that Facebook (META) beat on both earnings and revenue expectations.

Facebook’s (META) Q1 2023 earnings report dropped just after the markets closed today. The report reveals that Facebook brought in a total of $28.5 billion in revenue during the quarter, surpassing the $27.7 billion Wall Street estimate. As for earnings-per-share, Facebook’s total was $2.20 per share, beating the $2.14 estimate. In the report, CEO Mark Zuckerberg provided a statement on Facebook’s (META) quarter.

Facebook (META) stock soared in after-hours trading, reaching as high as $232.49 per share on the day. The company’s earnings report also revealed another quarter of losses for Reality Labs, as well as some higher-than-expected forecasts for the upcoming quarter.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_