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Meta Shares Soar as Facebook Returns to User Growth

  • Rebound offers Wall Street optimism that decline was a blip
  • Meta reports ‘softness’ in revenue in back half of quarter
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Meta Shares Soar After Facebook Shows Resilience
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Shares of Facebook parent Meta Platforms Inc. surged as much as 19% on Thursday morning after the company reported its main platform added more users than projected in the first quarter, easing concerns that the company is losing momentum as a new generation flocks to younger sites like TikTok.

Meta on Wednesday reported 1.96 billion daily users for its flagship platform, a return to growth after the first-ever decline in the December quarter. Analysts had estimated 1.94 billion.