MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Meta Platforms, Inc. (META) on Wednesday reported first-quarter profit of $16.64 billion.
The Menlo Park, California-based company said it had profit of $6.43 per share.
The results topped Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $5.22 per share.
The social media company posted revenue of $42.31 billion in the period, also exceeding Street forecasts. Fourteen analysts surveyed by Zacks expected $41.24 billion.
For the current quarter ending in June, Meta Platforms said it expects revenue in the range of $42.5 billion to $45.5 billion.
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