Mark Zuckerberg, chief executive officer of Meta Platforms Inc., center, departs from federal court in San Jose, Calif., on Dec. 20, 2022.
David Paul Morris | Bloomberg | Getty Images
Meta shares jumped 12% in extended trading on Wednesday after the company reported an unexpected increase in sales for the first quarter and issued better-than-expected guidance for the current period.
Here are the key numbers:
- Earnings: $2.20 per share.
- Revenue: $28.65 billion vs $27.65 billion expected by analysts, according to Refinitiv.
- Daily Active Users (DAUs): $2.04 billion vs $2.01 billion expected, according to StreetAccount.
- Monthly Active Users (MAUs): $2.99 billion vs $2.99 billion expected, according to StreetAccount.
- Average Revenue per User (ARPU): $9.62 vs $9.30 expected, according to StreetAccount.
Meta’s first-quarter sales rose 3% from $27.91 billion a year earlier, after three straight periods in which revenue declined. It wasn’t immediately clear if the company’s figure was comparable to analyst projections of $2.03.
For the second quarter, Meta expects revenue of between $29.5 billion and $32 billion, while analysts were expecting sales of $29.5 billion, according to Refinitiv.
“We had a good quarter and our community continues to grow,” Meta CEO Mark Zuckerberg said in a statement. The company is “becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision,” he said.
Meta’s Reality Labs unit, which is developing the virtual reality and augmented reality technologies for the metaverse, brought in $339 million in sales but logged an operating loss of $3.99 billion. The company added that operating losses in Reality Labs will increase this year.
Net income companywide fell 23% to $5.7 billion, or $2.20 per share, from $7.47 billion, or $2.72 per share, in the same quarter last year.
Meta said that total expenses for 2023 will be in the range of $86 billion to $90 billion. That figure includes…
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