Meta's revenue grew 27% YoY to $36.46 billion, exceeding expectations, driven by increased advertising impressions and higher ad costs.
Meta's advertising revenue surged, with the Asia-Pacific region as the fastest-growing in Q1 at 41% YoY, boosted by Chinese companies' U.S. outreach efforts.
Reels on Instagram, competing with TikTok, now occupies 50% of user time and enhances monetization. Threads, a Twitter-like platform, shows promise with 150 million monthly active users.
Despite a strong Q1, Meta's shares dropped due to investor worries about costly future investments like the metaverse, and a Q2 revenue outlook below Wall Street expectations.
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