Meta Q1 Revenue Jumps 27% and Profit Doubles to $12.4 Billion, Stock Falls on Weak Outlook
Todd Spangler NY Digital Editor Social-media powerhouse Meta punched in huge sales growth for the first quarter of 2024, as Mark Zuckerberg’s “year of efficiency” job cuts last year paid off with net income more than doubling. The company, parent of Facebook, Instagram and WhatsApp, reported Q1 revenue of $36.46 billion, up 27%, and net income soared 117% to $12.37 billion (or $4.71 per share). The results topped Wall Street expectations.