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Facebook (META) Q1 2024 earnings results beat EPS and revenue expectations

Facebook's latest round of earnings show a beat on earnings and revenue expectations.

April 24, 2024 1:46 PM

Meta, the parent company behind Facebook, is out with its latest round of quarterly earnings. While there’s a lot to parse through, the report clearly shows that Meta beat analyst expectations for earnings and revenue.

Meta shared its Q1 2024 earnings report when markets closed today. Meta reeled in $36.46 billion in revenue in Q1, narrowly beating the $36.2 billion expectation. As for earnings-per-share, Meta made $4.71/share against a $4.32/share prediction.

"It's been a good start to the year," said Mark Zuckerberg, Meta founder and CEO. "The new version of Meta AI with Llama 3 is another step towards building the world's leading AI. We're seeing healthy growth across our apps and we continue making steady progress building the metaverse as well."

Meta stock was down considerably in after-hours trading, hitting as low as $430.75 after ending the day at $493.50.

While Meta overall saw some solid results in its Q1 earnings, its Reality Labs division once again took a substantial loss in the quarter. For more of the financial news hitting the tech world this week, Shacknews has what you need to know.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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