Meta Platforms Inc (NASDAQ:META) shares are trading higher by 11.07% to $237.16 on a week-to-date basis. The company reported better-than-expected first-quarter results and an increase in active users.
What Happened With META Earnings?
Meta Platforms reported quarterly earnings of $2.20 per share which beat the analyst consensus estimate of $2.03.
The company reported quarterly sales of $28.64 billion which beat the analyst consensus estimate of $27.62 billion by 3.7%. This sales figure represents a 2.6% increase over sales of $27.91 billion in the same period last year.
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Among the user metrics, Meta’s daily active users rose 4% to 2.04 billion.
The inflection in ad revenue was achieved on the back of investments in AI and products, KeyBanc Capital Markets analyst Justin Patterson said in a note…Read More
META Up Huge YTD
Meta Platforms shares are also trading higher by 91.50% on a year-to-date basis. The stock is higher amid U.S. regulatory crackdowns on TikTok, headcount reductions and better-than-expected earnings results.
According to data from Benzinga Pro, META has a 52-week high of $241.68 and a 52-week low of $88.09.
