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.
