Meta announced its balance sheet for the January-March period. Accordingly, the company's revenue in the first quarter of this year increased by 27 percent compared to the same period last year, reaching 36.5 billion dollars. Meta had revenue of 28.6 billion dollars in the first quarter of 2023.
The company's revenue during this period surpassed market expectations of $ 36.2 billion.
Meta's net profit also increased by 117 percent to $ 12.4 billion in the first quarter of this year. The company announced a profit of 5.7 billion dollars in the first quarter of 2023.
The company's earnings per share, which was 2.20 dollars in the first quarter of 2023, rose to 4.71 dollars in the same period of this year.
As of the end of March, Meta's number of employees decreased by 10 percent compared to last year to 69,329.
The company reported that it expects revenues between 36.5 and 39 billion dollars in the second quarter of the year.
Meta Executive Director Mark Zuckerberg, who was quoted in the statement, stated that they made a good start to the year.
Stating that the new version of Meta AI is another step towards building the world's leading artificial intelligence, Zuckerberg noted that they see healthy growth in the company's applications.
