Meta posts $28.65B in revenue

Meta’s sales grew 3% year over year to $28.65 billion during the first quarter of 2023, topping analysts’ $27.66 billion estimate, Report informs, citing CNBC.

Meanwhile, the company’s metaverse venture Reality Lab recorded almost $4 billion in operating losses.

Net income companywide fell 24% to $5.71 billion, or $2.20 per share, from $7.47 billion, or $2.72 per share, in the same quarter last year.