Published , by Donovan Erskine
Published , by Donovan Erskine
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.