Economy
Facebook parent Meta posts 1st revenue gain in 4 quarters
Total revenue comes in at $28.6 billion, up 2.5% year-on-year
Övünç Kutlu |
27.04.2023 - Update : 27.04.2023
ISTANBUL
US-based social media giant Facebook's parent Meta posted its first revenue gain in four quarters, according to its financial results statement released late Wednesday.
The company's total revenue came in at $28.6 billion in the January-March period, up 2.5% from $27.9 billion in the same period last year.
Net income, on the other hand, decreased around 23% to $5.7 billion from approximately $7.4 billion during the same period.
After the positive revenue results, Meta's stock price jumped 11.9% to $234.31 per share in after-hours trading on the Nasdaq after closing Wednesday at $209.40 a share.
