Meta raised its capital-expenditure forecast, but it’s also posting strong enough revenue growth to support that spending.

America's tech giants aren't showing signs of slowing AI spending plans despite a stretch of economic uncertainty that has meant tough times for technology shares. After Meta Platforms (META) late Wednesday reported better-than-expected quarterly earnings,

Meta reported first-quarter sales of US$42.31 billion ($66.2 billion), beating Wall Street estimates of US$41.4 billion, with earnings per share of US$6.43 versus US$5.28 expected, according to LSEG data.

Shares of Meta Platforms, the parent company of Facebook and Instagram, jumped Thursday. The shares remain off 2025 highs, but have jumped out of the hole into which they’d stumbled in April.

Instagram and Facebook parent Meta Platforms Inc. posted better-than-expected results Wednesday for the first quarter thanks to strong advertising revenue on its social media platforms.