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Meta Platforms Earnings Beat, Revenue Misses In Q1

Meta Platforms Earnings Beat, Revenue Misses In Q1 © 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

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