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Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock

Social media and technology company Meta Platforms (NASDAQ:META) reported first-quarter financial results after the market close Wednesday. Here are the key highlights. What Happened: Meta reported first-quarter revenue of $36.45 billion, which was up 27% year-over-year. The revenue came in ahead of a Street consensus estimate of $36.16 billion, according to data from Benzinga Pro. The company reported earnings per share of $4.71 in the first quarter, beating a Street estimate of $4.33. Meta reported 3.24 billion Family Daily Active People in the first quarter, up 7% year-over-year. Ad impressions were up 20% year-over-year in the first quarter, with the average price per ...