Facebook’s parent company, called Meta, had a good first quarter of 2023. They earned more money than what people on Wall Street expected them to earn, and this was because more people were using Meta’s apps. For example, over 3.8 billion people were using Meta’s apps every month, and over 2 billion people were using Facebook every day. However, even though Meta earned more money, their profits actually decreased, and they spent less money on advertisements.

Meta has been changing things around because they face competition from other companies, and the pandemic has also affected how much money they make from ads. To try and grow more, Meta is now focusing on artificial intelligence (AI), which they believe will help them improve their apps and businesses. Even though things are going well for Meta now, they are still making changes, and there are some concerns, such as the possibility of new rules or laws that could affect them.