Welcome to the Tech Name Right Home for Thursday, April 27th, 2023.

I'm Brian McCullough today.

Meta reported earnings that surprised investors in the good way, but that doesn't mean

they're backing off the metaverse. Global smartphone shipments continue to plummet.

Might Congress ban children from social media? Amazon gets out of the health tracker

business and the interesting way that rejection

of the Microsoft Activision deal is using a somewhat novel argument.

Here's what you missed today in the world of tech.

In recent times we've shared so many bad earnings reports from Meta it's

maybe worth underlining that they just reported a good one. Meta's stock

jumped 10% overnight on the news that Q1 revenue rose 3% year over year.

Its number of daily active people among its family of apps jumped 5% to 3.02 billion, but it's the revenue number that really counts here. This is

Meta's first sales increase in almost a year quoting the Wall Street Journal.

That snapped a streak of three quarters in which Meta's revenue had retreated from the year prior,

the only time that has occurred since the company went public in 2012.

Shares surged by more than 12% in after-hours trading, as the company also forecasts that second

quarter revenue could reach as high as $32 billion.

The 3% increase is an improvement from the 4.5% drop in revenue that the company posted

in the final quarter of 2022, indicating that Meta's heavy

investment in artificial intelligence tools to improve its ad targeting systems is working.

Mr Zuckerberg attributed some of those gains to Reels, the company's short form video product.

Mr Zuckerberg said that Reels is increasing overall app engagement and that the company believes it is gaining share in the short form video market.

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