Social media giant Meta reported a surge in profit with the Facebook and Instagram parent seeing its first-quarter profit more than double, boosted by higher advertising revenue and a 6% increase in the average price of ads on its platforms, to touch $12.37 billion from $5.71 billion during the same period last year.Revenue, too, rose 27% to $36.46 billion from $28.65 billion. However, despite beating analyst estimates the stock slumped over 15% in extended trade after the company forecasted... Read this story
