Meta raised its capital-expenditure forecast, but it’s also posting strong enough revenue growth to support that spending.

America's tech giants aren't showing signs of slowing AI spending plans despite a stretch of economic uncertainty that has meant tough times for technology shares. After Meta Platforms (META) late Wednesday reported better-than-expected quarterly earnings,

Meta reported first-quarter sales of US$42.31 billion ($66.2 billion), beating Wall Street estimates of US$41.4 billion, with earnings per share of US$6.43 versus US$5.28 expected, according to LSEG data.

Shares in social media company Meta Platforms were up more than 4%, after it also beat Wall Street estimates for first-quarter revenue, signaling that its AI-powered tools helped draw advertising dollars despite tariff-related economic uncertainty.

West Coast tech giants Microsoft and Meta both exceeded analyst forecasts in first-quarter earnings reports Wednesday.

Instagram and Facebook parent Meta Platforms Inc. posted better-than-expected results Wednesday for the first quarter thanks to strong advertising revenue on its social media platforms.

Meta Platforms beat Wall Street estimates for first-quarter revenue on Wednesday, signaling that its artificial intelligence-powered tools helped pull in advertising dollars despite tariff-related economic growth fears.