Facebook parent Meta’s first quarter profit and its count of daily users jumped past Wall Street’s expectations despite the company’s slowest revenue growth since going public a decade ago. Shares were up sharply in after-hours trading.
Meta cut a sharp contrast with Google parent Alphabet, which on Monday reported what analysts called disappointing earnings, with profit below Wall Street’s expectations. Google also reported a revenue growth slowdown, but for Meta this appeared to have been mitigated by an increase in daily active users that “was enough to send the shorts covering and the stock surging,”
so, good news from META, could the Real Metaverse be next?