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For the ongoing quarter, Meta expects sales to range between $58 billion to $61 billion, mostly in-line with expectations.
Meta's Q1 Daily Active People missed expectations, partly due to restrictions in Iran and Russia.
KEY POINTS
- 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
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