Meta's net profit for the quarter amounted to $2.7 billion, equivalent to SEK 25 billion.
But that's after deducting what it calls a one-time tax charge of about $16 billion. According to the company, it's a result of US President Donald Trump's "One Big Beautiful Bill Act" that has come into effect.
Meta – which writes that the company expects “significantly smaller” federal tax payments in the future – says that net profit would otherwise have increased by 19 percent compared to the corresponding quarter last year.
Revenue for the quarter was $51.2 billion, compared with analysts' average forecast of $49.6 billion. It is also a 26 percent increase compared to the same quarter last year, according to the company.
