Meta Q1 Revenue Soars 33% in Q1, Net Profit Hits $26.8 Billion Ahead of Mass Layoffs

Home Digital News Apr 29, 2026 1:15pm PT Meta Q1 Revenue Soars 33% in Q1, Net Profit Hits $26.8 Billion Ahead of Mass Layoffs Tech giant raises guidance on 2026 capital spending, fueled by AI investments, to as much as $145 billion By Todd Spangler Plus Icon Todd Spangler NY Digital Editor xpangler Latest Meta Q1 Revenue Soars 33% in Q1, Net Profit Hits $26.8 Billion Ahead of Mass Layoffs 15 minutes ago YouTube Pumps Up Ad Sales 10.7% to $9.9 Billion in Q1 23 minutes ago Ted Cruz Rips FCC Over ABC Broadcast License Review Following Kimmel Joke: ‘It Is Not Government’s Job to Censor Speech’ 6 hours ago See All Courtesy of Meta Even as Meta continues make money hand over fist, the tech giant is set to make a large round of layoffs to optimize operations — and as it continues to plow billions into AI projects. Meta, the parent of Facebook, Instagram and WhatsApp, reported revenue of $56.3 billion for the first quarter of 2026 as ad sales were strong in the period. That’s up 33% from the year-prior period. Net income was $26.8 billion, up 61%, translating to $10.44 per share. Related Stories Ally Simpson Promoted to President of Television at North Road’s Kinetic Content