Variety
·entertainment
·1 hour ago
Meta reports 33% revenue surge to $56.3 billion amid AI spending boom
Meta reported first-quarter revenue of $56.3 billion, up 33% year-over-year, with net income hitting $26.8 billion. The social media giant is raising 2026 capital spending guidance to $125 billion-$145 billion to support AI investments while planning to lay off 8,000 employees in May. CEO Mark Zuckerberg cited "strong momentum" across Meta's.
Summary by Glance · Variety
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