Meta Platforms Inc (NASDAQ:META) reported financial results for the first quarter on Wednesday after the bell. Here’s a rundown of the report.
- Meta Platforms stock is holding steady. Where are META shares going?
Key Details In Meta’s Q1 Results
Meta posted first-quarter revenue of $56.31 billion, beating analyst estimates of $55.45 billion. The tech giant reported first-quarter adjusted earnings of $7.31 per share, beating estimates of $6.78 per share, according to Benzinga Pro.
Total revenue was up 33% on a year-over-year basis. Family daily active people declined slightly quarter-over-quarter due to internet disruptions in Iran and restrictions in Russia. Meta noted that the family daily active people metric was up 4% year-over-year in March.
Ad impressions jumped 19% year-over-year and average price per ad increased by 12% year-over-year. Meta noted its headcount was up 1% year-over-year to 77,986 as of March 31.
Meta generated $32.23 billion in cash flow from operations and $12.39 billion of free cash flow during the quarter. The company ended the period with $81.18 billion in cash, cash equivalents and marketable securities.
“We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs. We’re on track to deliver personal superintelligence to billions of people,” said Mark Zuckerberg, founder and CEO of Meta Platforms.
What’s Next For Meta?
Meta expects second-quarter revenue to be in the range of $58 billion to $61 billion versus estimates of $59.50 billion.
Meta continues to expect full-year 2026 expenses to be in the range of $162 billion to $169 billion. The company anticipates full-year capital expenditures of $125 billion to $145 billion, up from prior guidance of $115 billion to $135 billion. The increased CapEx guidance appears to be weighing on shares.
Meta’s management team will further discuss the quarter on an earnings call with investors and analysts at 5:30 p.m. ET.
META Shares Fall After Hours
META Price Action: Meta Platforms shares were down 5.33% in after-hours Wednesday, trading at $633.43 at the time of publication, according to Benzinga Pro.
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