Meta Platforms, a division of Investing.com reported Wednesday that the first quarter ended with revenue that was below analysts’ expectations and beat forecasts.

Meta Platforms reported earnings per share at $2.72 for revenue $27.91B. Investing.com polled analyst to predict EPS of 2.56 on revenues of $28.32B.

Meta Platforms shares have fallen 9.1% since the start of the year. However, they are still 54.48% below its 52-week high of $384.33 on September 1, 2021. They outperform the Nasdaq, which has fallen 20.17% since the beginning of the year.

After-hours trading saw Meta Platforms share gains of 18.32% following the release.

Meta Platforms is following other important earnings from the Communication Services sector this month

Meta Platforms reported Tuesday’s earnings, which was missed by Alphabet C, who reported an EPS report of $24.62 on $68.01B revenue, while forecasts called for an EPS estimate of $25.75 on $68.08B revenue.

On Tuesday, Alphabet A missed its expectations with a first quarter EPS at $24.62 for revenue $68.01B. This compares to EPS forecasted at $25.89 for revenue $68.08B.

Keep up to date with all the earnings reports coming soon by visiting Investing.com’s earnings calendar