Shares of Facebook parent Meta Platforms surged 19% in after-hours trading yesterday (27 April). Despite slowing revenue growth, daily active users increased. Overall, Meta’s performance was “better than feared”, according to Jefferies analyst Brent Thill. Facebook started out as a platform that allowed college students to connect and interact. Launched out of Mark Zuckerberg’s Harvard dorm room in 2004, the site eventually grew into one of the world’s largest social networking platforms. The company changed its name to Meta last October, reflecting chief executive officer Mark Zuckerberg’s pivot to the metaverse – a concept he thinks will eventually be as ubiquitous as the internet. To that end, Meta is investing billions of dollars into building hardware and software for the metaverse. Since the name change, Meta’s share price has fallen nearly 50% as investors questioned Zuckerberg’s hefty metaverse spending and Facebook’s slowing growth. However, the tide seems to be turning in Meta’s favour after their better-than-expected quarterly earnings....