Glonghui, April 25 | Jefferies released a rating report showing that Meta's first-quarter revenue rose 27% year-on-year to US$36.5 billion, the average number of daily active users (DAP) of home apps increased to 3.24 billion households, and operating revenue rose 91% year-on-year to about US$13.8 billion, better than expected. The operating margin reached 38%, and earnings per share reached 4.71 US dollars, which was also better than expected. According to the bank, the company raised its annual capital expenditure to 35 billion US dollars to 40 billion US dollars, and it is expected that due to continued investment in artificial intelligence, the capital expenditure budget will continue to rise next year. According to the bank, the company proposed a year-on-year increase of 15.1% to 22.9% in revenue for the second quarter, which is 20% lower than the median market forecast, and described the guidelines as being too conservative. The bank gave it a target price of 585 yuan and maintained its rating as “buy”.