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Meta’s Q1 Revenue Increases 3% as Ad Business Slowly Recovers

By
Sylvia Varnham O'Regan
· · Source: The Information

Meta Platforms’ revenue grew 3% year over year to $28.6 billion in the first quarter of 2023, signaling that its advertising business is rallying after three consecutive quarters of revenue decline. Despite the growth, a 10% increase in spending cut net income to $5.7 billion from $7.4 billion a year earlier. In the past six months, Meta has made a series of cost-cutting measures including two...

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