Meta Platforms, Inc. (NASDAQ: META) reported first quarter 2023 earnings results today.
Revenue increased 3% year-over-year to $28.6 billion.
Net income was down 24% to $5.7 billion while EPS fell 19% to $2.20 compared to last year.
Both revenue and earnings beat estimates.
The company expects second quarter 2023 total revenue to range between $29.5-32 billion.
The stock gained 11% during after-market hours on Wednesday.