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Meta shares make a comeback
Facebook’s main social network added more users than projected in the first quarter, potentially staving off concerns that the company is losing momentum as a new generation flocks to younger sites like TikTok.
Shares surged more than 19% in late trading after Facebook parent company Meta Platforms Inc. reported 1.96 billion daily users for its flagship platform, a return to growth after the first-ever decline in the December quarter. Analysts had estimated 1.94 billion.
[Bloomberg]
Facebook’s main social network added more users than projected in the first quarter, potentially staving off concerns that the company is losing momentum as a new generation flocks to younger sites like TikTok.
Shares surged more than 19% in late trading after Facebook parent company Meta Platforms Inc. reported 1.96 billion daily users for its flagship platform, a return to growth after the first-ever decline in the December quarter. Analysts had estimated 1.94 billion.
[Bloomberg]