Meta's revenue exceeds expectations, dispelling concerns about the advertising business, and the stock rises more than 6% after hours.

Meta Platforms announced that its sales reached $42 billion in the first quarter and stated that it will maintain stable growth in the coming months, dispelling concerns that Trump's tariffs would harm its global digital advertising business. The social media giant reported a 16% increase in revenue in the first quarter, surpassing analysts' expectations. Meta had previously projected that its revenue for the current quarter would increase by 8% to 16% year-on-year, driving its stock price up more than 6% in after-hours trading. Additionally, the company reported a net profit of $16.6 billion in the first quarter. Meta also stated that it has lowered its full-year spending expectations by $1 billion. However, Meta's metaverse business division Reality Labs recorded an operating loss of $4.2 billion in the first quarter, with sales of $412 million. Since the end of 2020, Reality Labs has accumulated losses exceeding $60 billion.