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Meta Platforms: Q1 Earnings Snapshot

MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Meta Platforms, Inc. (META) on Wednesday reported first-quarter earnings of $26.77 billion.

The Menlo Park, California-based company said it had profit of $10.44 per share. Earnings, adjusted for pretax gains, came to $7.31 per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $6.71 per share.

The social media company posted revenue of $56.31 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $55.49 billion.

For the current quarter ending in June, Meta Platforms said it expects revenue in the range of $58 billion to $61 billion.

The company expects full-year revenue in the range of $162 billion to $169 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on META at https://www.zacks.com/ap/META

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