---
schema_version: "secwatch.filing_event.v1"
accession: "0001326801-23-000063"
form_type: "8-K"
ticker: "META"
cik: "0001326801"
company_name: "Meta Platforms, Inc."
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T12:06:25.273377+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001326801-23-000063
- form_type: 8-K
- ticker: META
- cik: 0001326801
- company_name: Meta Platforms, Inc.
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326801/000132680123000063/0001326801-23-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326801/000132680123000063/meta-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001326801-23-000063
- JSON: https://secwatch.observer/filing/0001326801-23-000063.json
- Plain text: https://secwatch.observer/filing/0001326801-23-000063.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326801/000132680123000063/0001326801-23-000063-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.