During the reported quarter, the social technology company earned total revenue of $27.9bn, an increase of 7%, compared to $26.17bn in Q1 2021; The company expects to earn revenue of $28-30bn in the second quarter of 2022
Meta said that Facebook’s DAUs were 1.96 billion on average for March 2022. (Credit: Thomas Ulrich from Pixabay)
Meta has posted a net income of $7.46bn for the first quarter of 2022 (Q1 2022), a decrease of 21%, compared to $9.5bn in the same quarter of the previous year.
In the preceding quarter, that is Q4 2021, the parent company of Facebook had a net income of $10.28bn.
Meta’s diluted earnings per share for the quarter ended 31 March 2022 were down by 18% to $2.72, compared to $3.3 in Q1 2021.
During the reported quarter, the social technology company registered total revenue of $27.9bn, which is an increase of 7%, compared to $26.17bn in Q1 2021. In Q4 2021, Meta’s total revenue was $33.67bn.
The company expects to earn revenue of $28-30bn in the second quarter of this year.
The family of apps (FoA) unit, which includes Facebook, Instagram, Messenger, WhatsApp, and other services, posted revenue of $27.2bn in Q1 2022, compared to revenue of $25.63bn in the corresponding quarter of the previous year.
Advertising revenue from the various apps in Q1 2022 was $27bn, compared to $25.44bn in the same period of the previous year.
Meta’s reality labs business had revenue of $695m in the reported three months, compared to $534m in Q1 2021. This unit includes the company’s augmented and virtual reality (AR and VR) related consumer hardware, software, and content.
Meta said that the daily active users (DAUs) for Facebook were 1.96 billion on average for March 2022, which is a 4% increase year-over-year.
Meta founder and CEO Mark Zuckerberg said: “We made progress this quarter across a number of key company priorities and we remain confident in the long-term opportunities and growth that our product roadmap will unlock.
“More people use our services today than ever before, and I’m proud of how our products are serving people around the world.”
Last month, the social technology company announced plans to build an $800m data centre in Kansas City, Missouri, US. The data centre to be located in the Golden Plains Technology Park campus is expected to begin operations in 2024.