SAN FRANCISCO, April 29 (Xinhua) -- U.S. social media giant Meta Platforms, Inc. on Wednesday reported financial results for the first quarter ending March 31 with total revenue of 56.31 billion U.S. dollars, an increase of 33 percent year on year.
The company's quarterly net income rose to 26.77 billion dollars, up 61 percent from a year earlier. Diluted earnings per share for the quarter jumped to 10.44 dollars from 6.43 dollars in the same period of 2025, said Meta, the parent company of Facebook, Instagram and WhatsApp.
Meta said the results included an 8.03 billion dollar income tax benefit recognized in the first quarter of 2026. Excluding the benefit, diluted earnings per share would have been 3.13 dollars lower.
Its cash, cash equivalents and marketable securities were 81.18 billion dollars as of March 31, 2026. Cash flow from operating activities was 32.23 billion dollars and free cash flow was 12.39 billion dollars.
The company expects second quarter total revenue to be in the range of 58 billion to 61 billion dollars and full-year 2026 total expenses to be in the range of 162 billion to 169 billion dollars. ■
