Meta gains after first-quarter revenue beat

Shares of Facebook parent Meta Platforms META.O rise ~4% in extended trading

Co reports Q1 revenue of $42.31 bln vs estimate of $41.40 bln — LSEG data

It also lowered its total expenses forecast for the year to be between $113 billion and $118 billion, from earlier expectations of $114 billion to $119 billion.

Meta expects Q2 revenue between $42.5 bln and $45.5 bln, compared with analysts' average estimate of $44.03 bln

As of Wednesday's close, stock down ~6% YTD