Meta Reports Strong Q1 Earnings but Shares Fall Due to Increased Capital Expenditure Guidance
Meta Platforms reported a strong first quarter with revenue rising 33% year-over-year to $56.3 billion, surpassing analyst expectations. However, shares fell 6.5% after-hours due to increased capital expenditure guidance, driven by higher component costs, particularly memory prices. The company also saw a 5% quarter-over-quarter decline in daily active users in its Family of Apps unit.
Tickers: $META
Topics: AI Investments Capital Expenditure Daily Active Users Earnings Meta Platforms Revenue Growth