Meta Platforms, Inc. Bottom Line Advances In Q1, Beats estimates

(RTTNews) - Meta Platforms, Inc. (META) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $12.37 billion, or $4.71 per share. This compares with $5.71 billion, or $2.20 per share, in last year's first quarter.

Analysts on average had expected the company to earn $4.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 27.3% to $36.46 billion from $28.65 billion last year.

Meta Platforms, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $12.37 Bln. vs. $5.71 Bln. last year. -EPS (Q1): $4.71 vs. $2.20 last year. -Revenue (Q1): $36.46 Bln vs. $28.65 Bln last year.

-Guidance: Next quarter revenue guidance: $36.5 - $39 Bln