Meta Q1 revenue up 3% to $28.65B, net income down 24%; raises FY expense outlook, IDPC ruling expected May

Meta Platforms, Inc.

2023-Q1 EPS reported $2.20 revenue$28,645,000,000

Revenue $28.65B (+3% YoY, +6% constant currency); net income $5.71B (-24%); diluted EPS $2.20 (-19%).
Operating margin 25% vs 31% a year ago; costs +10% to $21.42B including $1.14B restructuring charges.
Ad impressions +26% YoY; average price per ad -17%; Family daily active people 3.02B (+5%).
Q2 2023 revenue guidance $29.5-32.0B; FY2023 expense outlook raised to $86-90B (incl. $3-5B restructuring).
Expect IDPC decision in May on EU data transfers; may include suspension order and fine; monitoring EU-U.S. Data Privacy Framework.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Meta Platforms, Inc. reported quarter ended March 31, 2023 results: revenue $28,645 million, net income $5,709 million, EPS $2.20. Guidance reaffirmed.

Period: quarter ended March 31, 2023
Revenue: $28,645 million
Net income: $5,709 million
EPS: $2.20
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of 2023, ad impressions delivered across our Family of Apps increased by 26% year-over-year and the average price per ad decreased by 17% year-over-year. • Revenue – Revenue was $28.65 billion, an increase of 3% year-over-year, and an increase of 6% year-over-year on a constant currency basis. • Costs and expenses – Total costs and expenses were $21.42 billion, an

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Source: SEC EDGAR

accession 0001326801-23-000063

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