Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) delivered better-than-expected revenue and profits for the first quarter, sending shares of the Facebook, Instagram and WhatsApp owner higher afterhours on Wednesday.
First quarter revenue was up 16% from the same periood last year at $42.31 billion, almost $1 billion higher than the $41.36 Wall Street consensus estimate.
Earnings per share (EPS) improved 37% from the year-ago quarter to $6.43, above estimates of $5.21.
Family daily active people across Meta’s apps were 3.43 billion on average for March 2025, an increase of 6% year-over-year.
Ad impressions were up 5% while average price per ad increased by 10%.
"We've had a strong start to an important year, our community continues to grow and our business is performing very well," Meta CEO Mark Zuckerberg said in a statement.
"We're making good progress on AI glasses and Meta AI, which now has almost 1 billion monthly actives."
For the second quarter, Meta expected revenue in the range of $42.5 billion to $45.5 billion, compared to the consensus of $43.33 billion.
It lowered its full year expenses guidance to be in the range of $113 billion to $118 billion from its earlier outlook of $114 billion to $119 billion.
Full year capital expenditures (capex) are now expected to be in the range of $64 billion to $72 billion, up from its earlier guidance of $60 billion to $65 billion.
Meta said this updated outlook reflects data center investments to support its AI investments, while the majority of its capex will support its core business.
Shares of Meta traded up 4.1% at $571 afterhours.