Meta share price goes up

Meta share price goes up 7% after strong quarter

Meta share price went up by 7% after the company reported earnings that beat Wall Street expectations. The social media giant reported revenue of $29.1 billion for the first quarter of 2023, up 18% year-over-year. This was driven by strong growth in its advertising business, which accounts for the majority of its revenue.

Meta also reported that it had 1.96 billion daily active users, up from 1.93 billion in the previous quarter. This growth was driven by strong growth in its messaging platforms, such as WhatsApp and Messenger.

Investors were pleased with the results, and the stock price jumped in after-hours trading.

Meta's strong earnings report is a sign that the company is still growing, despite the recent challenges it has faced.

The company's growth in its advertising business is a sign that it is still able to attract advertisers, despite the competition from other platforms.

Meta's growth in its messaging platforms is a sign that it is still able to attract users, despite the competition from other messaging apps.

Overall, Meta's strong earnings report is a positive sign for the company and its shareholders. The stock price is likely to continue to rise in the coming months, as investors become more confident in the company's future prospects.

Here are some of the key takeaways from Meta's earnings report:

Revenue: $29.1 billion, up 18% year-over-year

Net income: $7.5 billion, up 21% year-over-year

Daily active users: 1.96 billion, up from 1.93 billion in the previous quarter

Monthly active users: 3.0 billion, up from 2.9 billion in the previous quarter

Average revenue per user: $9.36, up from $9.11 in the previous quarter

Disclaimer: This article is for informational purposes only and should not be considered investment advice.