Meta Platforms, Inc. Q1 Income Advances, Beats Estimates

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

The company's bottom line totaled $16.644 billion, or $6.43 per share. This compares with $12.369 billion, or $4.71 per share, last year.

Analysts on average had expected the company to earn $5.22 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 16.1% to $42.314 billion from $36.455 billion last year.

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

-Earnings: $16.644 Bln. vs. $12.369 Bln. last year. -EPS: $6.43 vs. $4.71 last year. -Revenue: $42.314 Bln vs. $36.455 Bln last year.

-Guidance: Next quarter revenue guidance: $42.5 - $45.5 Bln