Brands
Meta Q1 profit jumps 61 per cent as revenue climbs to $56.3 billion
Ad growth and AI momentum drive strong quarter with steady margins
CALIFORNIA: Meta Platforms, Inc. posted a robust performance for the first quarter ended March 31, 2026, with net income surging 61 per cent year-on-year to $26.77 billion, driven by strong advertising demand and continued user growth across its platforms.
Revenue rose 33 per cent to $56.31 billion, compared to $42.31 billion in the same quarter last year. On a constant currency basis, revenue increased 29 per cent. Operating income grew 30 per cent to $22.87 billion, while operating margin remained steady at 41 per cent.
Diluted earnings per share jumped 62 per cent to $10.44 from $6.43 a year ago. The results included a $8.03 billion income tax benefit, without which earnings would have been lower.
Meta Platforms, Inc. founder and CEO Mark Zuckerberg said, “We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs. We’re on track to deliver personal superintelligence to billions of people.”
Daily active users across Meta’s family of apps reached 3.56 billion in March 2026, up 4 per cent year-on-year. Advertising remained the primary growth driver, with ad impressions increasing 19 per cent and average price per ad rising 12 per cent.
Total costs and expenses climbed 35 per cent to $33.44 billion, reflecting higher investments in artificial intelligence and infrastructure. Capital expenditure stood at $19.84 billion during the quarter.
Cash flow from operating activities was $32.23 billion, while free cash flow came in at $12.39 billion. The company reported $81.18 billion in cash, cash equivalents and marketable securities as of March 31, 2026.
Looking ahead, Meta expects second quarter revenue to range between $58 billion and $61 billion, with foreign exchange expected to provide a 2 per cent tailwind. Full-year expenses are projected between $162 billion and $169 billion, while capital expenditure guidance has been raised to $125 billion to $145 billion.
With strong ad momentum and continued investment in AI, Meta is maintaining its growth trajectory while preparing for the next phase of digital innovation.
Brands
Tecsox names Ritesh Baheti as vice president
A million-order man joins the consumer electronics upstart as it chases the next generation of Indian listeners
GURGAON: Tecsox, the Indian consumer audio and lifestyle technology brand, has hired Ritesh Baheti as its vice president, betting that young, battle-tested leadership can sharpen its edge in one of the world’s most brutally competitive electronics markets.
Baheti is not a novice. He has spent years in the trenches of consumer audio, shepherding products from concept to shelf, among them single-driver Bluetooth open-wear speakers that carved out an entirely new listening format, alongside earbuds and speaker lines pitched at both the premium and value ends of the market. His fingerprints are on the full arc of product development: conception, design alignment and go-to-market execution.
The commercial results have been hard to ignore. Baheti has built direct-to-consumer sales ecosystems from scratch, deployed CRM platforms to manage customer lifecycles and architected order management systems robust enough to handle over one million orders a year, a figure that speaks as much to operational discipline as it does to raw ambition.
At Tecsox, he will lead product innovation, sharpen user experience across the portfolio and push the brand’s expansion deeper into India’s crowded consumer electronics arena.
Puneet Gulati, founder and promoter of Tecsox, framed the hire in generational terms. “At Tecsox, we believe the future of consumer technology lies in understanding the mindset of the new generation,” he said. “Bringing in young leadership like Ritesh will help us revolutionise our product approach, making it more aligned with the expectations of today’s users. His perspective and energy will play a crucial role in shaping products that are not only innovative but also deeply relevant to everyday lifestyles.”
Baheti, for his part, sounds eager for the fight. “I’m excited to step into this role at a time when Tecsox is rapidly evolving and expanding its footprint,” he said. “The opportunity to build products that combine performance, design and accessibility is incredibly inspiring. I look forward to contributing to the company’s vision of democratising technology and creating solutions that truly resonate with the next generation of consumers.”
Tecsox is doubling down on portfolio expansion and market penetration, with affordability and user-centric design as its twin levers. In a market where margins are thin and consumers are unforgiving, the company is placing a sizeable wager on Baheti’s ability to deliver products people actually want, and at prices they can actually pay. The clock is ticking.
