Meta Q1 Results reported significant surge more than doubling numbers in Q1 profit

Meta Q1 Results: Meta Platforms, the parent company of Facebook and Instagram, has announced its first quarter results. The company's results have shown excellent growth in the first quarter in which profits have more than doubled. According to AP news, this tech giant is rapidly gaining profits from its social media platform.

How were the profits and earnings?

In the January-March quarter, Meta's profit has more than doubled to $ 12.37 billion, which was $ 5.71 billion in the same quarter last year. Its results have seen a significant increase compared to the same quarter last year and earnings have increased from $2.20 per share to $4.71 per share. If we look at the revenue, it has increased by 27 percent to $36.46 billion which was $28.65 billion in the same quarter last year. In particular, there has been an increase in advertising revenue due to a 6 percent increase in average ad prices, the impact of which has been seen in Meta's quarterly performance.

Yesterday there was a decline of 16 percent in Meta shares.

Although Meta's results have been excellent, yesterday a sharp decline was seen in the company's shares in the American market and at one time they were trading 16 percent lower. The reason behind this is said to be that the company has kept its next revenue guidance soft and only after this selling of shares was seen.

Meta's revenue guidance for the next quarter

Meta has kept the revenue guidance closer to $36.5-39 billion than the estimates of market experts, whereas it was expected to be at $38.25 billion.

Meta plans to invest in artificial intelligence

Meta has told about its plans that in the year 2024, the company will mainly invest in Artificial Intelligence i.e. AI.

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