The actor, who played Chandler Bing in the popular NBC series, was found dead on Saturday in a hot tub at his Los Angeles home after an apparent drowning.
In a joint statement to PEOPLE, his co-stars shared a tribute to Matthew saying: "We are all so utterly devastated by the loss of Matthew. We were more than just cast mates. We are a family," their statement reads. "There is so much to say, but right now we’re going to take a moment to grieve and process this unfathomable loss."
"In time we will say more, as and when we are able," the statement continues. "For now, our thoughts and our love are with Matty’s family, his friends, and everyone who loved him around the world."
"We are heartbroken by the tragic loss of our beloved son and brother," they said on Sunday.
"Matthew brought so much joy to the world, both as an actor and a friend. You all meant so much to him and we appreciate the tremendous outpouring of love."
Warner Bros. also shared their devastation in a statement released to HELLO!. "We are devastated by the passing of our dear friend Matthew Perry," the studio penned.
"Matthew was an incredibly gifted actor and an indelible part of the Warner Bros. Television Group family. The impact of his comedic genius was felt around the world, and his legacy will live on in the hearts of so many. This is a heartbreaking day, and we send our love to his family, his loved ones, and all of his devoted fans."
Since Matthew's passing was announced, tributes have poured in from his friends and colleagues, including from Selma Blair, Elizabeth Hurley, and Canadian PM Justin Trudeau.
Gwyneth Paltrow also reflected on fond memories with Matthew in a tribute shared on Instagram. "I met Matthew Perry in 1993 at the Williamstown Theater Festival in Massachusetts," she began. "We were both there for most of the summer doing plays. He was so funny and so sweet and so much fun to be with. We drove out to swim in creeks, had beers in the local college bar, kissed in a field of long grass. It was a magical summer.
"He had shot the pilot of Friends but it had not aired yet. He was nervous, hoping his big break was just around the corner. It was. We stayed friends for a while until we drifted apart, but I was always happy to see him when I did. I am super sad today, as so many of us are. I hope Matthew is at peace at long last. I really do."