Meta's impressive revenue alleviates concerns about its advertising business, rising over 6% in after-hours trading.

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