Meta posts solid Q1 results following March redundancies

Kalila Welch

April 27, 2023 11:06

Meta has reported its Q1 results for 2023, posting US$28.65 billion (A$43.35) in revenue for the three months to March 31, up 3% YoY.

While less than the 7% YoY growth posted in Q1 2022, the results marked a turnaround from the Facebook parent company’s revenue slump in each of the last three quarters of 2022. However, net income remained in decline, at US$5.71 billion (A$8.64), down 25% YoY.

Meta and other big tech struggled in 2022

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Kalila Welch

Kalila Welch joined the Mumbrella editorial team in November 2021. She took a brief career break in mid 2023 to complete her Masters of Journalism before returning to Mumbrella for a year.

Topics