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Meta beat earnings but shares fell as rising spending and guidance weighed on sentiment.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Meta reported adjusted earnings of $7.31 per share on $56.31 billion in revenue,
00:11beating estimates of $6.78 per share and $55.45 billion, according to Benzinga Pro.
00:21Revenue increased 33% year over year. Family daily active people declined quarter over quarter
00:28due to internet disruptions in Iran and restrictions in Russia, but rose 4% year over year in March.
00:34Ad impressions increased 19%, and average price per ad rose 12%.
00:39Operating cash flow was $32.23 billion, and free cash flow was $12.39 billion.
00:47Cash and equivalents totaled $81.18 billion.
00:51Meta guided second quarter revenue to $58 billion to $61 billion,
00:56versus $59.50 billion estimates, and raised full-year capital expenditures to $125 billion
01:03to $145 billion.
01:06Shares were down by 9.32% at $608.78 in Thursday's pre-market trading, according to Benzinga Pro.
01:15For all things money, visit Benzinga.com.
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