Meta, previously known as Facebook, managed to earn $7.47 billion in net income in the first 3 months of 2022, reported AFP.
Meta increased its revenue compared to its expectations, while earnings are down 21% year-on-year.
The US-based company published on Wednesday a turnover close to 28 billion dollars (+7%). Its stock jumped 14% in e-trading after the closing of the New York Stock Exchange.
Facebook totaled 1.96 billion daily users, up from 1.93 at the end of December 2021, according to the company’s earnings release.
The social media group accounts for 3.64 billion people worldwide, using at least one of the group’s platforms, including Facebook, Instagram, Messenger, and WhatsApp every month.
Earlier in February, the US-based company reported the first-ever drop in the number of daily users, triggering a share price slump of over 22%.
In late October, Facebook changed its brand corporate name to Meta, rendering the Facebook social network service a subsidy of the company, alongside WhatsApp and Instagram.
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