FILE PHOTO: A Meta logo is pictured at a trade fair in Hannover Messe, in Hanover, Germany, April 22, 2024. REUTERS/Annegret Hilse/File Photo
(Reuters) -Meta Platforms rode strong advertising performance to beat analysts' revenue estimates for the first quarter and match expectations for the next quarter on Wednesday, assuaging investor concerns over tariff-related economic growth fears.
The Facebook and Instagram parent also increased planned capital expenditures this year as it speeds up construction of data centers that can support artificial intelligence, which it sees bolstering and transforming its business.
Uh-oh! Daily quota reached.
