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📈   How AI helped Meta beat Wall Street's Q1 predictions

Business

According to a FactSet poll, analysts were expecting earnings of $5.23 per share on revenue of $41.34 billion, but profits rose 16% to $42.31 billion. Instagram and Facebook parent Meta Platforms Inc. posted better-than-expected results Wednesday for the first quarter thanks to strong advertising revenue—boosted by artificial intelligence tools—on its social media platforms.Meta’s stock climbed in extended trading after the results came out.It was a “a good quarter for Meta, but it was before the economic turmoil really kicked in and before the seesaw of the tariffs began,” said Sonata Insights chief analyst Debra Aho Williamson. “It was also before we started to see pullbacks in ad spending from China-based advertisers like Temu and Shein.”Going forward, she ...

Fast Company     May 01, 2025