Meta , Snap and Google all reported first-quarter results this week, with revenue growth that exceeded analysts estimates and at rates not seen in at least two years.
The companies entered earnings season in a favorable position in that their numbers would be comparable to historically weak periods.
Meta, which was the first in the group to report results, put some fears to rest on Wednesday, showing a 27% jump in first-quarter revenue to $36.5 billion.
"When Meta was in its dark days two years ago, the company knew what they had to do to get back on track," analysts at Bernstein wrote in a note after the earnings report.
Meta lost two-thirds of its value in 2022 and was forced to dramatically cut headcount.
Persons:
Meta, Bernstein
Organizations:
Google, Meta, Facebook