Instagram and Facebook parent Meta Platforms Inc. posted better-than-expected results Wednesday for the first quarter thanks to strong advertising revenue on its social media platforms.

Meta Platforms beat Wall Street estimates for first-quarter revenue on Wednesday, signaling that its artificial intelligence-powered tools helped pull in advertising dollars despite tariff-related economic growth fears.

Facebook and Instagram parent company Meta Platforms Inc. delighted investors today as it crushed analyst’s targets on earnings and revenue, sending its stock higher in extended trading. The company reported first-quarter earnings before certain costs such as stock compensation of $6.