Mark Zuckerberg, CEO of Meta, testifies during the Senate Judiciary Committee hearing titled “Big Tech and the Online Child Sexual Exploitation Crisis,” in Dirksen building on Wednesday, January 31, 2024.
Tom Williams | CQ-Roll Call, Inc. | Getty Images
Meta shares plunged in extended trading on Wednesday after the company issued a light forecast, overshadowing better-than-expected first-quarter results.
Here are the key numbers:
- Earnings per share: $4.71 per share vs. $4.32 per share expected by LSEG
- Revenue: $36.46 billion vs. $36.16 billion expected by LSEG
Revenue increased 27% from $28.65 billion in the same period a year earlier, the fastest rate of expansion for any quarter since 2021.
Meta said it expects revenue in the second quarter of $36.5 billion to $39 billion. The midpoint of the range, $37.75 billion, would represent 18% year-over-year growth and is below analysts’ average estimate of $38.3 billion.
Executives will discuss the company’s results on a call with analysts at 5 p.m. ET.
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