Meta Profits are out – here are the numbers


Mark Zuckerberg, chief executive of Meta Platforms Inc., center, leaves federal court in San Jose, California on December 20, 2022.

David Paul Morris | Bloomberg | Getty Images

Parent Facebook Meta reported income after the bell. Here are the results.

  • Earnings: $2.20 per share
  • Income: $28.65 billion vs $27.65 billion expected, according to Refinitiv.

It’s not immediately clear whether reported earnings compare to Refinitiv’s analyst estimate of $2.03 per share. Wall Street is also monitoring several other numbers in the report:

  • Daily Active Users (DAU): 2.01 billion expected, according to StreetAccount.
  • Monthly Active Users (MAU): 2.99 billion expected, according to StreetAccount.
  • Average revenue per user (ARPU): $9.30 expected, according to StreetAccount.

investment related news


Since Meta CEO Mark Zuckerberg announced in February that 2023 would be the company’s “year of efficiency,” the stock has risen, paring its historic losses last year.

Investors rallied behind Zuckerberg’s plans to shrink his company through a series of layoffs, leading to some 21,000 expected job cuts. The company recently said goodbye to some tech workers last week and is planning another round of cuts in May that will target corporate group employees.

Meta’s downsizing efforts come as the company’s revenue base shrinks from a battered online advertising market and the lingering effects of Apples iOS 2021 privacy update that significantly limited ad targeting capabilities. The company also faces increased competition from rival TikTok.

Facebook’s parent company could post its fourth consecutive quarterly decline in sales if it reports first-quarter results that come in at the lower end of its previous forecast, which called for revenue of between $26 billion and $28.5 billion.

ParentGoogle Alphabetwhich dominates the online advertising market with Meta, released first-quarter results on Tuesday that beat analysts’ expectations, although advertising revenue fell from a year earlier.

Outside of its core business, Wall Street will also want to hear Meta’s latest plans to invest in the Metaverse, a futuristic world of virtual and augmented reality. Since changing its name from Facebook to Meta in late 2021, the company has spent billions of dollars quarterly on technologies for the Metaverse, though revenue isn’t expected to be significant anytime soon.

Analysts expect Reality Labs, the metaverse division, to post a $3.95 billion operating loss in the first quarter, according to StreetAccount.

Meta shares have jumped 72% so far this year after losing nearly two-thirds of their value in 2023. The stock closed Tuesday at $207.55.

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