The shares of Meta Platforms Inc. jumped over 14% on Thursday, reaching the highest point since February 2022, as investors hailed the company's hotter-than-expected quarterly earnings.
The company's revenue reached $28.65 billion in the first three months of its fiscal 2023, going up 3% year over year. Moreover, the company's positive outlook for the second quarter also seemingly boosted traders' confidence.
Meta's stock surged 14.27% at 9:38 am ET, going for $238.5500 per share.