[Meta's strong revenue dispels advertising business concerns, up more than 6% after hours] Meta Platforms (META.O) said sales reached $42 billion in the first quarter and said it would maintain steady growth in the coming months, dispelling concerns that Trump's tariffs would hurt its global digital advertising business. The social media giant said its first-quarter revenue grew 16%, exceeding analysts' expectations. Meta had previously expected the company's revenue in the current quarter to grow 8% to 16% year-on-year, pushing its shares up more than 6% in after-hours trading. In addition, the company had a net profit of $16.6 billion in the first quarter. Meta also said it had lowered its full-year spending forecast by $1 billion. However, Meta's metaverse business unit, Reality Labs, recorded an operating loss of $4.2 billion on sales of $412 million. Since the end of 2020, Reality Labs has accumulated losses of more than $60 billion.
