Meta shares surge despite Facebook owner’s weakest revenue growth for a decade
Meta shares were lifted after the social media giant’s first earnings report, despite missing Wall Street analysts’ revenue estimates.
Facebook’s owner saw shares surge some 13 per cent after, revealing it had managed to claw back some users, after previously reporting its first ever decline in user-numbers.
Meta lost a staggering $230bn in market value after an update in February.
Now, it said there had been a marginal recovery in daily active users, which are a fraction higher than analysts had anticipated.
Revenue growth was some seven per cent year-on-year, the slimmest percentage in its decade history.