Meta Shares Jump 12% Following Q1 Earnings Beat By

© Reuters. Meta Shares Jump 12% Following Q1 Earnings Beat

Meta Platforms (FB) shares rose more than 12% after-hours following the company’s reported Q1 results,International formal foreign exchange traders with EPS of $2.72 coming in better than the consensus estimate of $2.56. Revenue increased 7% year-over-year to $27.91 billion, compared to the consensus estimate of $28.2 billion.

Family daily active people (DAP) were 2.87 billion on average for March 2022, while Family monthly active people (MAP) were 3.64 billion as of March 31, 2022, both increasing 6% year-over-year.

Q1 ad impressions across Family of Apps grew 15% year-over-year and the average price per ad declined 8% year-over-year.

The company provided its Q2/22 outlook, expecting revenue in the range of $28-30 billion, missing the consensus estimate of $30.6 billion.

Shares of Facebook (NASDAQ:FB) were down 48% year-to-date.

By Davit Kirakosyan

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