Meta Platforms Inc. reported stronger-than-expected first-quarter earnings, with shares rising over 6% following a 16% growth in revenues to $42.31 billion. CEO Mark Zuckerberg indicated that the company's health in advertising demand is crucial in facing macroeconomic challenges. Analysts noted that despite a few headwinds from lower spending by Asian advertisers, Meta's scale and innovative products provide resilience. The company maintained positive guidance while highlighting potential impacts of tariffs on the digital ad market. Concerns linger as larger industry players, like Snap and Google, have already signaled possible advertising slowdowns.
Meta's adv. demand trends appear to be relatively healthy... focused on newer products are offsetting some macro challenges, wrote Citi's Ronald Josey.
Our business is also performing very well, and I think we're well positioned to navigate the macroeconomic uncertainty, Meta CEO Mark Zuckerberg reassured analysts.
First-quarter revenues grew 16% from a year ago... and topped a $41.10 billion estimate from LSEG.
The digital ad market is likely to get a bit jittery... due to reduced spend in the U.S. from Asia-based e-commerce exporters.
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