Meta Q1 revenue and profits top estimates, boosts capex for AI infrastructure investments

  • 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.