Meta Platforms Inc. reported better-than-expected earnings for the first quarter, driven by robust advertising revenue across its platforms. The company earned $16.64 billion, a substantial 35% increase year-over-year. Revenue also rose by 16% to $42.31 billion. Analysts had lower expectations for earnings and revenue, making Meta's results a pleasant surprise. The company forecasts continued growth with projected revenue for the current quarter between $42.5 billion and $45.5 billion. Additionally, Meta raised its capital expenditure outlook, signaling investment in AI capabilities and infrastructure.
"We've had a strong start to an important year, our community continues to grow and our business is performing very well," CEO Mark Zuckerberg said in a statement.
"The fact that Meta did [provide guidance] is a bullish sign," said Zacks Investment Research analyst Andrew Rocco.
While many companies have not been providing guidance amid tariff concerns and an uncertain economic environment, Meta's earnings exceeded expectations.
Meta raised its capital expenditure forecast for 2025 to $64 billion-$72 billion to support investments in AI and infrastructure hardware.
Collection
[
|
...
]