Meta Platforms Inc (NASDAQ:META) stock fell 9.48% (As on April 30, 11:24:12 AM UTC-4, Source: Google Finance) after the company surpassed Wall Street’s expectations for earnings and revenue in the first quarter, though its daily active people, or DAP, were dragged down quarter over quarter by “internet disruptions in Iran.” Meta announced a 4% increase in its daily active users across its platforms to 3.56 billion, on average, as of March. This marked a decline compared to the prior quarter, when its daily active people metric stood at 3.58 billion, due to internet disruptions in Iran and a WhatsApp restriction in Russia. The company has announced plans to increase its AI spending, partially as a result of higher input costs. Ad impressions across its family of apps rose 19% over the prior year while price paid per ad rose 12%. These both marked an acceleration from the annual growth seen in Q4. The company’s headcount stood at 77,986 as of March 31. Last week, Meta announced plans to cut 8,000 workers — or 10% of its workforce — and take down 6,000 open roles. Cash, cash equivalents, and marketable securities were $81.18 billion as of March 31, 2026. Cash flow from operating activities was $32.23 billion, and free cash flow was $12.39 billion.

META in the first quarter of FY 26 has reported the adjusted earnings per share of $10.44, beating the analysts’ estimates for the adjusted earnings per share of $8.15. The company had reported the adjusted revenue growth of 33 percent to $56.3 billion in the first quarter of FY 26, beating the analysts’ estimates for revenue of $55.5 billion, according to Bloomberg estimates.

The company increased its capex plans for the year to a range of $125 billion and $145 billion, compared to its prior range of $115 billion to $135 billion, a move the company said, “reflects the expectations for higher component pricing this year, and to a lesser extent, additional data center costs to support future year capacity.” Overall expenses are expected to remain the same, reaching a range of $162 billion to $169 billion for the year.

Excluding an $8 billion one-time tax benefit, Meta’s earnings per share would’ve come in at $7.31. Revenue in the current quarter is expected to fall in a range of $58 billion to $61 billion. Lastly, META continue to monitor active legal and regulatory matters, including headwinds in the EU and the U.S. that could significantly impact the business and financial results.