Mark Zuckerberg, CEO, Meta Platforms, in July 2021.
Kevin Dietsch | Getty Images News | Getty Images
Meta will report first-quarter results after the bell Wednesday.
Here’s what analysts are expecting.
Earnings per share: $4.32, according to LSEG.
Revenue: $36.16 billion, according to LSEG.
Daily active users (DAUs): 2.12 billion, according to StreetAccount
Monthly active users (MAUs): 3.09 billion, according to StreetAccount
Average revenue per user (ARPU): $11.75 according to StreetAccount
Meta has been a favorite on Wall Street since early 2023, when CEO Mark Zuckerberg told investors it would be the “year of efficiency.” The stock almost tripled last year, trailing only Nvidia among members of the S&P 500, and is up another 40% in 2024.
The Facebook parent has been clawing back digital ad market share after a dismal 2022. At that time, the company was reeling from Apple’s iOS privacy update and macroeconomic concerns that led many brands to rein in spending.
Zuckerberg spearheaded an initiative to rebuild the ad business with a focus on artificial intelligence. On the company’s last earnings call in February, finance chief Susan Li said Meta has been investing in AI models that can accurately predict relevant ads for users, as well as tools that automate the ads-creation process.
Analysts expect Meta to report a 26% increase in revenue from $28.65 billion a year earlier. That would mark the fastest rate of growth since the third quarter of 2021, which was before Apple’s privacy change started to show up on other companies’ balance sheets.
Meta is benefiting from a stabilizing economy and surge in spending from Chinese discount retailers like Temu and Shein, which have been pumping money into Facebook and company-owned Instagram in an effort to reach a wider swath of users. Analysts at Baird said in a Monday note that slower spending from China-based advertisers could be a source of concern in the first-quarter results.
Still, the Baird analysts see continuing momentum for Meta, and said they have “reasonably high” expectations for the company because of its improving advertiser tools and success in short-form video monetization.
Investors will remain focused on Meta’s costs, which have been central to the stock rally. Early last year, Zuckerberg said the company would be better at eliminating unnecessary projects and cracking down on bloat, which would help Meta become a “stronger and more nimble organization.”
The company cut about 21,000 jobs in the first half of 2023, and Zuckerberg said in February of this year that hiring will be “relatively minimal compared to what we would have done historically.”
As of Dec. 31, Meta had a global workforce of 67,317, down from a peak of more than 87,000 employees in 2022, according to Securities and Exchange Commission filings.
Jefferies analysts wrote in a report last week that it’s “hard to argue with excellence.” The analysts expect Meta to beat on its first-quarter results and provide better-than-expected guidance for the second quarter. As of now, the average analyst estimate calls for revenue growth of 20% in the second quarter to $38.29 billion, according to LSEG.
“We continue to be encouraged by META’s ability to sustain double-digit rev growth, given the combination of higher engagement from AI investments, and increasing advertiser ROI & efficiency,” the Jefferies analysts wrote.
Meta’s Reality Labs unit, which houses the company’s hardware and software for development of the nascent metaverse, continues to bleed cash. Analysts expect the division to show an operating loss of $4.31 billion for the quarter, on top of the $42 billion it’s lost since the end of 2020. Revenue in the unit is projected to reach $512.5 million, a 51% increase from $339 million a year earlier.
Executives will discuss the company’s results on a call with analysts at 5 p.m. ET.
Marek Antoni Iwanczuk | Sopa Images | Lightrocket | Getty Images
Google on Friday made the latest a splash in the AI talent wars, announcing an agreement to bring in Varun Mohan, co-founder and CEO of artificial intelligence coding startup Windsurf.
As part of the deal, Google will also hire other senior Windsurf research and development employees. Google is not investing in Windsurf, but the search giant will take a nonexclusive license to certain Windsurf technology, according to a person familiar with the matter. Windsurf remains free to license its technology to others.
“We’re excited to welcome some top AI coding talent from Windsurf’s team to Google DeepMind to advance our work in agentic coding,” a Google spokesperson wrote in an email. “We’re excited to continue bringing the benefits of Gemini to software developers everywhere.”
The deal between Google and Windsurf comes after the AI coding startup had been in talks with OpenAI for a $3 billion acquisition deal, CNBC reported in April. OpenAI did not immediately respond to a request for comment.
The move ratchets up the talent war in AI particularly among prominent companies. Meta has made lucrative job offers to several employees at OpenAI in recent weeks. Most notably, the Facebook parent added Scale AI founder Alexandr Wang to lead its AI strategy as part of a $14.3 billion investment into his startup.
Douglas Chen, another Windsurf co-founder, will be among those joining Google in the deal, Jeff Wang, the startup’s new interim CEO and its head of business for the past two years, wrote in a post on X.
“Most of Windsurf’s world-class team will continue to build the Windsurf product with the goal of maximizing its impact in the enterprise,” Wang wrote.
Windsurf has become more popular this year as an option for so-called vibe coding, which is the process of using new age AI tools to write code. Developers and non-developers have embraced the concept, leading to more revenue for Windsurf and competitors, such as Cursor, which OpenAI also looked at buying. All the interest has led investors to assign higher valuations to the startups.
This isn’t the first time Google has hired select people out of a startup. It did the same with Character.AI last summer. Amazon and Microsoft have also absorbed AI talent in this fashion, with the Adept and Inflection deals, respectively.
Microsoft is pushing an agent mode in its Visual Studio Code editor for vibe coding. In April, Microsoft CEO Satya Nadella said AI is composing as much of 30% of his company’s code.
The Verge reported the Google-Windsurf deal earlier on Friday.
Jensen Huang, CEO of Nvidia, holds a motherboard as he speaks during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, on June 11, 2025.
The sale, which totals 225,000 shares, comes as part of Huang’s previously adopted plan in March to unload up to 6 million shares of Nvidia through the end of the year. He sold his first batch of stock from the agreement in June, equaling about $15 million.
Last year, the tech executive sold about $700 million worth of shares as part of a prearranged plan. Nvidia stock climbed about 1% Friday.
Huang’s net worth has skyrocketed as investors bet on Nvidia’s AI dominance and graphics processing units powering large language models.
The 62-year-old’s wealth has grown by more than a quarter, or about $29 billion, since the start of 2025 alone, based on Bloomberg’s Billionaires Index. His net worth last stood at $143 billion in the index, putting him neck-and-neck with Berkshire Hathaway‘s Warren Buffett at $144 billion.
Shortly after the market opened Friday, Fortune‘s analysis of net worth had Huang ahead of Buffett, with the Nvidia CEO at $143.7 billion and the Oracle of Omaha at $142.1 billion.
Read more CNBC tech news
The company has also achieved its own notable milestones this year, as it prospers off the AI boom.
On Wednesday, the Santa Clara, California-based chipmaker became the first company to top a $4 trillion market capitalization, beating out both Microsoft and Apple. The chipmaker closed above that milestone Thursday as CNBC reported that the technology titan met with President Donald Trump.
Brooke Seawell, venture partner at New Enterprise Associates, sold about $24 million worth of Nvidia shares, according to an SEC filing. Seawell has been on the company’s board since 1997, according to the company.
Huang still holds more than 858 million shares of Nvidia, both directly and indirectly, in different partnerships and trusts.
Elon Musk meets with Indian Prime Minister Narendra Modi at Blair House in Washington DC, USA on February 13, 2025.
Anadolu | Anadolu | Getty Images
Tesla will open a showroom in Mumbai, India next week, marking the U.S. electric carmakers first official foray into the country.
The one and a half hour launch event for the Tesla “Experience Center” will take place on July 15 at the Maker Maxity Mall in Bandra Kurla Complex in Mumbai, according to an event invitation seen by CNBC.
Along with the showroom display, which will feature the company’s cars, Tesla is also likely to officially launch direct sales to Indian customers.
The automaker has had its eye on India for a while and now appears to have stepped up efforts to launch locally.
In April, Tesla boss Elon Musk spoke with Indian Prime Minister Narendra Modi to discuss collaboration in areas including technology and innovation. That same month, the EV-maker’s finance chief said the company has been “very careful” in trying to figure out when to enter the market.
Tesla has no manufacturing operations in India, even though the country’s government is likely keen for the company to establish a factory. Instead the cars sold in India will need to be imported from Tesla’s other manufacturing locations in places like Shanghai, China, and Berlin, Germany.
As Tesla begins sales in India, it will come up against challenges from long-time Chinese rival BYD, as well as local player Tata Motors.
One potential challenge for Tesla comes by way of India’s import duties on electric vehicles, which stand at around 70%. India has tried to entice investment in the country by offering companies a reduced duty of 15% if they commit to invest $500 million and set up manufacturing locally.
HD Kumaraswamy, India’s minister for heavy industries, told reporters in June that Tesla is “not interested” in manufacturing in the country, according to a Reuters report.
Tesla is looking to recruit roles in Mumbai, job listings posted on LinkedIn . These include advisors working in showrooms, security, vehicle operators to collect data for its Autopilot feature and service technicians.
There are also roles being advertised in the Indian capital of New Delhi, including for store managers. It’s unclear if Tesla is planning to launch a showroom in the city.