Meta Platforms reported a 33% year over year increase in Q1 revenue of 33% to $56.3 billion, crushing the LSEG-compiled analyst consensus estimate of $55.45 billion. This was the strongest revenue growth for Meta in 5 years. However, the company's Q1 sales were downgraded by 6.5% in after-hours trading due to higher capital expenditure guidance. The company raised its full-year total expense guidance by $10 billion, largely due to increased component costs. Despite this, a 5% quarter-over-quarter slide in daily active people (DAP) in its Family of Apps unit, including Facebook, Instagram, Messenger, and WhatsApp, was too far. The firm's CEO, Mark Zuckerberg, attributed the increase to internet outages in Iran and Russia, but the slide was not a significant step forward. Despite these challenges, Meta believes that strong user monetization, cash generation, and operating income results justify the increased spending outlays. Despite the increased capex guidance, the firm's stock remains in the red year-to-date year to date.