Facebook parent Meta's reported quarterly profit jumped past Wall Street's expectations, as did its number of daily users. Shares were up more than 18% in remarket trading, despite the company's slowest revenue growth since going public a decade ago. Facebook had 1.96 billion daily active users on average for March 2022, an increase of 4% year-over-year. Analysts, on average, were expecting earnings of $2.56 per share on revenue of $28.28 billion, according to a poll from FactSet. This mainly refers to Meta's Reality Labs segment, which encompasses its futuristic "metaverse" project.

Source: Fox News April 28, 2022 04:46 UTC