Meta’s first quarter earnings, revenue beat Wall Street’s expectations

Instagram and Facebook parent Meta Platforms Inc. posted better-than-expected results Wednesday for the first quarter thanks to strong advertising revenue on its social media platforms

Instagram and Facebook parent Meta Platforms Inc. posted better-than-expected results Wednesday for the first quarter thanks to strong advertising revenue on its social media platforms.

Meta’s stock climbed in extended trading after the results came out.

The company earned $16.64 billion, or $6.43 per share, in the January-March period, up 35% from $12.37 billion, or $4.71 per share, in the same period a year earlier.

Revenue rose 16% to $42.31 billion from $36.46 billion a year earlier.

Analy