© Reuters. Meta Platforms Earnings Beat, Revenue Misses In Q1
Investing.com – Meta Platforms reported on Wednesday first quarter that beat analysts’ forecasts and revenue that fell short of expectations.
Meta Platforms announced earnings per share of $2.72 on revenue of $27.91B. Analysts polled by Investing.com anticipated EPS of $2.56 on revenue of $28.32B.
Meta Platforms shares are down 9.1% from the beginning of the year, still down 54.48% from its 52 week high of $384.33 set on September 1, 2021. They are outperforming the Nasdaq which is down 20.17% from the start of the year.
Meta Platforms shares gained 18.32% in after-hours trade following the report.
Meta Platforms follows other major Communication Services sector earnings this month
Meta Platforms’s report follows an earnings missed by Alphabet C on Tuesday, who reported EPS of $24.62 on revenue of $68.01B, compared to forecasts EPS of $25.75 on revenue of $68.08B.
Alphabet A had missed expectations on Tuesday with first quarter EPS of $24.62 on revenue of $68.01B, compared to forecast for EPS of $25.89 on revenue of $68.08B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar