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MetaResults: Facebook’s parent company Meta reported first-quarter profit and earnings that exceeded Wall Street’s expectations. Due to this, there has been a strong jump in the stock of the company. Meta said that the number of monthly users of its flagship platform Facebook has also reached three billion.
Meta Platforms Inc said that its profit in the January-March quarter was $ 5.71 billion, or $ 2.20 per share. That’s down 19 percent from $7.47 billion, or $2.72 per share, in the same period a year ago.
During this period, the company’s income increased by three percent to reach $ 28.65 billion, which was $ 27.91 billion in the same period a year ago. However, analysts were expecting profit of $2.02 per share on revenue of $27.67 billion.
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