Facebook Parent-Company Meta Surges 13% on Revenue Beat

Facebook parent-company Meta saw its share price surge 13% at opening after reporting revenue that beat estimates. The company reported $17.7 billion in revenue, which was higher than the estimated $17.3 billion.

The surge in share price was driven by strong performance in the company’s advertising business. Advertising revenue grew 22% year-over-year to $17.4 billion, which was higher than the estimated $17.2 billion.

Analysts React to the News

Analysts were generally positive about the news, with many citing the strong performance of the company’s advertising business as a key driver of the surge in share price. Analysts also noted that the company’s other businesses, such as its payments and virtual reality divisions, were also performing well.

Overall, the news was seen as a positive sign for the company’s future prospects, and many analysts are now expecting the company to continue to perform well in the coming quarters.

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