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Meta stock soars despite slowed revenue growth
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Meta stock soars despite slowed revenue growth

Meta stock jumps despite slowed revenue growth. Meta shares jumped 17% on Thursday.

Where: United States

The Facts

Facebook parent Meta’s first-quarter profit jumped well past Wall Street’s expectations despite slower revenue growth.
The company earned $7.47 billion, or $2.72 per share, in the January-March period – down 21% from $9.5 billion, or $3.30 per share in the same period a year earlier.
Revenue rose 7% to $27.91 billion from $26.17 billion.
Shares of Meta Platforms Inc (FB.O) rose 17% on Thursday after losing nearly half their value this year.
Facebook’s daily active users (DAU), a key metric, came in at 1.96 billion, slightly higher than the estimate of 1.95 billion.

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