Meta's newest app, Threads, continues to nicely grow its user base, reaching more than 350 million monthly active users. That's up from 320 million at year-end. The company has just started opening up Threads to advertisers. It expects to introduce ads gradually to the platform and not have it be a meaningful contributor this year.

Facebook and Instagram parent company Meta Platforms Inc. delighted investors today as it crushed analysts’ targets on earnings and revenue, sending its stock higher in extended trading.

Microsoft and Meta Platforms drove Wall Street higher after delivering profits for the start of the year that were even bigger than analysts expected.