Market Updates
Facebook Parent Meta Platforms Net Falls 21%
Scott Peters
27 Apr, 2022
New York City
Meta Platforms Inc said first-quarter 2022 total revenues increased 7% to $27.9 billion, net income declined 21% to $7.5 billion, and diluted earnings per share fell 18% to $2.72 from $3.30 a year ago.
Facebook daily active users increased 4% to 1.96 billion and increased 6% to 2.87 billion across all its brands.
Monthly active users across all the company platforms and brands increased 6% to 3.64 billion and rose 3% to 2.94 billion on Facebook platform.
The advertising revenues in the U.S. and Canada increased $100 million to $12 billion, declined in Europe to $6.3 billion from $8.2 billion, and fell in Asia to $5.6 billion from $6.2 billion.
In the quarter, capital expenditures increased to $5.5 billion from $4.4 billion a year ago.
The company repurchased $9.39 billion of our Class A common stock in the first quarter of 2022 and as of March 31, 2022, the company had $29.41 billion available and authorized for repurchases.
Outlook
The company guided second quarter revenues between $28 billion and $30 billion.
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