Meta reported its first increase in sales in nearly a year due to improvements in its ad business. Shares rose more than 9% after hours.
Social media giant’s first-quarter earnings report show it continues to improve after loss of ad-tracking capabilities in 2021Facebook parent Meta Platforms Inc. on Wednesday reported its first increase in sales in nearly a year due to continued improvements in its advertising business.
The company reported revenue of $28.6 billion, up 3% from a year prior and ahead of expectations of nearly $27.7 billion, according to analysts surveyed by FactSet. Shares surged by more than 9% in off-hours trading.
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