VONNIE: IT’S 5AM IN NEW YORK CITY, GOOD MORNING, I’M VONNIE QUINN WITH YOUR BLOOMBERG BRIEF >> HERE IS WHAT YOU NEED TO KNOW. THE GLOBAL BOND ROUT DEEPENS. SO OFTEN NOTES ACROSS THE WORLD AND TREASURIES FROM GDB'S SEEING NO SIGN OF RELIEF TODAY.DODGING BULLETS, GOOGLE AVOIDS THE SALE OF ITS CHROME BUSINESS IN THE LATEST COURT RULING. DON'T MISS OUR EXCLUSIVE INTERVIEW LATER THIS HOUR. MARKETS WERE TROUBLESOME YESTERDAY PARTICULARLY YIELDS, JAPAN'S 30 YEAR YIELD UP ANOTHER SEVEN BASIS POINTS.NOT QUITE AS BAD ...

Core Insights - Meta Platforms reported strong Q1 2025 earnings, with revenue of $42.31 billion, a 16% increase from Q1 2024, exceeding analyst expectations [2] - The company experienced a decline in earnings compared to Q4 2024, but daily active users across its "Family of Apps" reached approximately 3.4 billion [3] - Meta's capital expenditures for 2025 are projected to be between $64 billion and $72 billion, driven by investments in AI and data centers [4] Financial Performance - Q1 2025 earnings per share were $6.43, surpassing the estimate of $5.25, while revenue was $42.31 billion against an estimate of $41.38 billion [7] - Operating margin for Q1 2025 was reported at 41.5%, exceeding the expected 37.5% [7] - In Q4 2024, Meta reported revenue of $48.39 billion, beating the consensus estimate of $46.98 billion [5] AI and Strategic Focus - AI was a central theme during the earnings call, with "Meta AI" mentioned 34 times, highlighting the company's commitment to AI as a long-term investment [4] - Zuckerberg emphasized the importance of domestic AI standards in response to competition from companies like DeepSeek [6][20] - The company is shifting focus from the Metaverse to AI-based large language models, with its open-sourced AI offering, Llama, gaining traction [19] User Engagement and Advertising - Meta's average price per ad increased by 11% year over year, although user growth fell short of expectations, with daily active users growing 5% to 3.29 billion [9] - Despite a dip in shares post-earnings call, the company remains optimistic about its AI investment strategy and its potential impact on future growth [10] Legal and Regulatory Environment - An ongoing antitrust lawsuit poses a risk to Meta, alleging illegal acquisitions of Instagram and WhatsApp to maintain a monopoly [20] - The outcome of the trial, which concluded in May 2025, remains uncertain and could significantly impact the company's structure [21]