Meta Platforms Inc (NASDAQ:META) reported financial results for the first quarter on Wednesday after the bell. Here’s a rundown of the report.
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Key Details In Meta’s Q1 Results
Meta posted first-quarter revenue of $56.31 billion, beating analyst estimates of $55.45 billion. The tech giant reported first-quarter adjusted earnings of $7.31 per share, beating estimates of $6.78 per share, according to Benzinga Pro.
Total revenue was up 33% on a year-over-year basis. Family daily active people declined slightly quarter-over-quarter due to internet disruptions in Iran and restrictions in Russia. Meta noted that the family daily active people metric was up 4% year-over-year in March.
Ad impressions jumped 19% year-over-year and average price per ad increased by 12% year-over-year. Meta noted its headcount was up 1% year-over-year to …
