Meta Platforms, Inc. Bottom Line Retreats In Q1, but beats estimates

(RTTNews) - Meta Platforms, Inc. (FB) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $7.47 billion, or $2.72 per share. This compares with $9.50 billion, or $3.30 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.6% to $27.91 billion from $26.17 billion last year.

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

-Earnings (Q1): $7.47 Bln. vs. $9.50 Bln. last year. -EPS (Q1): $2.72 vs. $3.30 last year. -Analyst Estimates: $2.56 -Revenue (Q1): $27.91 Bln vs. $26.17 Bln last year.

-Guidance: Next quarter revenue guidance: $28 - 30 Bln Full year revenue guidance: $87 - $92 Bln