Meta Platforms (FB); Former Facebook

[behappyalways]

Meta Soars After Blowing Away Estimates, Hikes Capex Forecast
https://www.zerohedge.com/markets/meta- ... x-forecast

[winston]

not vested

Meta on Wednesday (Apr 30) reported quarterly profits that were well above expectations, brushing aside market worries that its heavy investments in cloud computing and artificial intelligence (AI) would hamper growth.

The company reported a US$16.6 billion profit in the first three months of the year on revenue of US$42.3 billion, with business spending on ads remaining strong.

Source: Phillips

[behappyalways]

$META Ray-Ban glasses now spy on you constantly with no real option to opt out
https://x.com/Mayhem4Markets/status/1917957847255777439

[winston]

not vested

Meta Platforms, Inc.

After Wednesday’s market close, Meta Platforms announced a strong first quarter.

Earnings climbed nearly 37% to $6.43 per share, up from $4.71 a year ago.

Revenue rose almost 16% to $42.31 billion.

Analysts expected $5.21 earnings per share on $41.36 billion in revenue, so profits came in more than 23% higher, and sales beat forecasts by about 2%.

A big part of the boost came from ads. Meta’s ad impressions – how often people saw ads on Facebook, Instagram, and other platforms – rose 5% from a year ago.
And the average price per ad went up 10%. More users are also logging on. Daily active people rose 6% to 3.43 billion.

For the second quarter, Meta forecasts revenue between $42.5 billion and $45.5 billion.

The company is doubling down on its AI investments, too. It now plans to spend between $64 billion and $72 billion in 2025 – more than its earlier estimate of $60 to $65 billion.

Most of that money will go toward building new data centers to power its growing suite of AI tools.

Source: Market 360