12:40 - 27.04.2023

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April 27, Fineko/abc.az. Over the past quarter Meta Corporation's revenue grew by 3% year-on-year, exceeding analysts' expectations.

ABC.AZ reports that the relevant data is provided in corporation’s financial statements published on Wednesday.

Following 3-month period ended March 31, Meta's income reached $28.6 bn. For Jan-Mar 2022 corporation's revenue amounted to $27.9 bn, so it grew by 3% year-on-year. CNBC stresses that Meta's financial performance over the past quarter exceeded analysts' expectations, that predicted revenue of no more than $27.6 bn.

Company's net profit for the quarter amounted to $5.7 bn compared with $7.4 bn a year earlier, a decrease of 24%. At that, as CNBC notes, according to this criterion, company's indicators also exceeded the expectations of analysts who expected a larger reduction in profits.