Meta will report earnings for Q1 after the closing bell. Yves Herman/Reuters Meta Platforms earnings are on deck. Wall Street has been eyeing a new phase of growth for the social media titan driven by new AI capabilities. Analysts are also bullish on Meta's AI model, Muse Spark, the first model from Alexandr Wang's team since the company invested billions into Scale AI to bring Wang in house. Headed into the call, analysts are looking for updates on AI capex, as Meta is among the most prolific spenders among Big Tech giants. They'll also be on the lookout for news about AI-driven gains in the ad business and cost savings related to the recent announcement of layoffs at the firm. Meta heads into earnings with the stock up about 1% year to date. The results will be published shortly after 4 p.m. ET, with the call scheduled for 5:30 p.m. Analysts estimate revenue of $55.51 billion, EPS of $6.65 First quarter Revenue estimate $55.51 billion (Bloomberg Consensus) Advertising rev. estimate $54.16 billion Family of Apps revenue estimate $55 billion Reality Labs revenue estimate $508 million Other revenue estimate $741.4 million Operating income estimate $19.46 billion Family of Apps operating income estimate $24.26 billion Reality Labs operating loss estimate $4.77 billion Operating margin estimate 35.1% EPS estimate $6.65 Ad impressions estimate +16.2% Average price per ad estimate +12% Average Family service users per day estimate 3.61 billion Second quarter Revenue estimate $59.56 billion Capital expenditure estimate $29.89 billion Read the original article on Business Insider