Meta is out with the earnings and EPS beat expectations but revenues miss:

• earnings-per-share come in at $2.72 versus $2.56 estimate
• revenues at 27.91 billion versus 28.20 billion estimate
• Daily active users 1.96 billion versus 1.95 billion estimate
• Monthly users 2.94 billion versus 2.97 billion estimate
• sees a second quarter revenue guidance of $28 billion to $30 billion versus 30.63 billion estimate

Shares nevertheless are up 18% initially.