# For the ongoing quarter, Meta expects sales to range between $58 billion to $61 billion, mostly in-line with expectations.

*business · news · 2026-04-29 · CNBC TV18*

## Key points

- Meta's Q1 Daily Active People missed expectations, partly due to restrictions in Iran and Russia.
- Meta raised 2024 spending guidance to $125-145 billion, citing higher component and data center costs.
- Q1 net profit included an $8 billion one-time tax benefit from new US tax policy changes.
- Meta announced layoffs of over 8,000 employees and a hiring freeze for 6,000 open roles.

**Companies:** Meta Platforms Inc.
**Countries:** United States, Iran, Russia

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/meta-platforms-q1-results-share-price-fall-capex-increase-users-hit-iran-war-data-centers-layoffs-19896208.htm)

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