01/05/2023
Facebook is a publicly traded company, and it reports its earnings every quarter. In its Q1 2023 earnings report, released on April 26, 2023, Facebook reported $31.4 billion in revenue, a 27% increase from the same period the previous year. The company also reported a net income of $11.2 billion, up from $9.5 billion in Q1 2022.
It's worth noting that Facebook's revenue is primarily generated from advertising on its platform. The company has faced some challenges in recent years related to privacy concerns and changes to Apple's iOS 14 operating system, which impacted its ability to track user behavior for targeted advertising. Nonetheless, Facebook remains one of the largest and most profitable social media platforms in the world.
