MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Meta Platforms, Inc. (META) on Wednesday reported first-quarter earnings of $5.71 billion.
The Menlo Park, California-based company said it had profit of $2.20 per share. Earnings, adjusted for restructuring costs, came to $2.64 per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The social media company posted revenue of $28.65 billion in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $27.49 billion.
For the current quarter ending in June, Meta Platforms said it expects revenue in the range of $29.5 billion to $32 billion.
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