Meta Reports 33 Pct Revenue Growth In Q1

SAN FRANCISCO, April 30 (Bernama-Xinhua) -- United States (US) social media giant Meta Platforms, Inc. on Wednesday reported financial results for the first quarter ending March 31 with total revenue of US$56.31 billion, an increase of 33 per cent year on year, reported Xinhua.

The company's quarterly net income rose to US$26.77 billion, up 61 per cent from a year earlier.

Diluted earnings per share for the quarter jumped to US$10.44 from US$6.43 in the same period of 2025, said Meta, the parent company of Facebook, Instagram and WhatsApp.

Meta said the results included a US$8.03 billion income tax benefit recognised in the first quarter of 2026. Excluding the benefit, diluted earnings per share would have been US$3.13 lower.

Its cash, cash equivalents and marketable securities were US$81.18 billion as of March 31, 2026. Cash flow from operating activities was US$32.23 billion, and free cash flow was US$12.39 billion.

The company expects second-quarter total revenue to be in the range of US$58 billion to US$61 billion and full-year 2026 total expenses to be in the range of US$162 billion to US$169 billion.

-- BERNAMA-XINHUA