Meta now has 3.24 billion family daily active people (DAP) on average across its family of apps, an increase of 7 per cent year-over-year. Instagram Threads has reached more than 150 million monthly active users -- up from 130 million in February.

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In an earnings call with analysts, Meta Founder and CEO Mark Zuckerberg said that Instagram, reels and video continue to drive engagement, with reels alone now making up 50 per cent of the time that's spent within the app.

“Threads is growing well too. They're now more than 150 million monthly active users and it continues to generally be on the trajectory that I hope to see,” he told analysts.

Meta's Q1 total revenue was $36.5 billion, up 27 per cent on both a reported and constant currency basis.

Q1 total expenses were $22.6 billion, up 6 per cent compared to last year.

"It's been a good start to the year. The new version of Meta AI with Llama 3 is another step towards building the world's leading AI. We're seeing healthy growth across our apps and we continue making steady progress building the metaverse as well,” said Zuckerberg.

Meta now has 69,329 employees (as of March 31), a decrease of 10 per cent year-over-year.

"We estimate that more than 3.2 billion people use at least one of our apps each day and we're seeing healthy growth in the US,” said the company's CEO.