Meta Stock Soars on User Growth. Here’s What Wall Street Thinks.

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Shares of Meta Platforms were rising sharply early Thursday after the parent company of Facebook posted better-than-expected user growth in the first quarter.

Meta (FB) gained 17.6% in premarket trading to $205.65 after the company reported Facebook daily active users of 1.96 billion, higher than analysts’ estimates and reversing a small decline in the December quarter.