Investing.com - Meta Platforms reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Meta Platforms announced earnings per share of $2.72 on revenue of $27.91B. Analysts polled by Investing.com anticipated EPS of $2.56 on revenue of $28.32B.
Meta Platforms shares are down 47% from the beginning of the year and are trading at $207.75 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is down 20.32% from the start of the year.
Meta Platforms shares gained 18.75% in after-hours trade the report.
Meta Platforms follows other major Communication Services sector earnings this month
Meta Platforms's report follows an earnings missed by Alphabet C on Tuesday, who reported EPS of $24.62 on revenue of $68.01B, compared to forecasts EPS of $25.75 on revenue of $68.08B.
Alphabet A had missed expectations on Tuesday with first quarter EPS of $24.62 on revenue of $68.01B, compared to forecast for EPS of $25.89 on revenue of $68.08B.
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