Meta Platforms says Q1 EPS would have been 44c higher excluding charges

Meta said: "In March 2023, we announced three rounds of planned layoffs to further reduce our company size by approximately 10,000 employees across the Family of Apps, FoA, and Reality Labs, RL, segments. In connection with these layoffs, we expect to incur total pre-tax severance and related personnel costs of approximately $1B, of which $523M was recognized during the first quarter of 2023 and the remaining charges will be substantially recorded by the end of 2023. Total restructuring charges recorded under our FoA segment were $934M and RL segment were $210M during the first quarter of 2023. Excluding these charges, our operating margin would have been four percentage points higher and our diluted EPS would have been 44c higher for the first quarter of 2023."