Meta calms investors with solid Q1 earnings

By Agence France-Presse

Apr 29, 2022 12:02 am

SAN FRANCISCO: Facebook parent Meta on Wednesday (Thursday in Manila) reported better-than-expected profit in the first quarter of 2022, calming investors who were worried about the toll of competition from TikTok and eased coronavirus pandemic restrictions.

Meta earned an income of $7.5 billion on revenue of $27.9 billion in the first three months, sending shares up more than 18 percent in after-market trading that followed release of the earnings figures.

UNDER SCRUTINY This Oct. 28, 2021 file photo shows the Meta logo on a laptop screen in Moscow. AFP PHOTO

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

US Fed chair says in no rush to tweak interest rate policy

AI feud: How Musk and Altman's partnership turned toxic

McDonald's global markets boost sales

Trump signs EOs on steel, aluminum tariffs

Softbank eyes $1.5-B quarterly earnings

BYD to integrate DeepSeek

Musk-led group makes $97.4-B bid for OpenAI