Meta shares plunged in extended trading on Wednesday after the company issued a light forecast, overshadowing better-than-expected first-quarter results.
Here are the key numbers:
Earnings per share: $4.71 per share vs. $4.32 per share expected by LSEG
Revenue: $36.46 billion vs. $36.16 billion expected by LSEG
Revenue increased 27% from $28.65 billion in the same period a year earlier, the fastest rate of expansion for any quarter since 2021.
Meta said it expects revenue in the second quarter of $36.5 billion to $39 billion. The midpoint of the range, $37.75 billion, would represent 18% year-over-year growth and is below analysts’ average estimate of $38.3 billion.
Source: https://www.cnbc.com/2024/04/24/meta-meta-q1-2024-earnings-.html
