Meta platforms exhibited robust first-quarter earnings, with revenue of $42.3bn, up 16% year-over-year, and net income soaring 35%. The company achieved higher-than-expected earnings per share at $6.43, propelled by a significant rise in advertising revenue. Daily active users across its family of apps increased to 3.43bn. However, concerns linger over global trade tensions and regulatory challenges, particularly in Europe. Meta's commitment to AI is evident in their increased capital expenditures, raising projections to between $64bn and $72bn to enhance infrastructure and AI capabilities, despite tariff risks persisting.
Meta's shares are racing higher in after-hours trading after a strong set of results - and more importantly, a confident outlook.
Capital expenditures for this year have now been raised accordingly, estimated to range between $64bn and $72bn, reflecting increased investments in AI.
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