Meta beats expectations in first quarter as ad revenue climbs
By Le Figaro with AFP
The parent company of Facebook and Instagram posted a net profit of $16.6 billion, up 34% year-on-year.
Skip the ad Skip the adThe American multinational Meta posted significantly better results in the first quarter than the market expected, driven by sustained growth in advertising revenue, and raised its investment target to further accelerate the development of artificial intelligence (AI).
Net income was $16.6 billion, up 34% year-over-year. On a per-share basis, it reached $6.43, well above the $5.22 analyst forecast, according to a consensus estimate compiled by FactSet.
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