Meta has reported the monthly user base of Facebook has inched close to three billion, and its revenue guidance for the current quarter is also above estimates.
Solid Q1 results for Facebook parent Meta, stock soars
Facebook parent company Meta’s first-quarter results have surpassed Wall Street’s modest expectations on both profit and revenue, sending its stock soaring in after-hours trading.
Meta reported the monthly user base of its flagship platform Facebook inched close to three billion, and its revenue guidance for the current quarter was also above analyst estimates.
“Our AI work is driving good results across our apps and business,” CEO Mark Zuckerberg said in a statement on Wednesday.
“We’re also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision.”