Facebook Parent Meta Platforms Sees First Sales Increase in Nearly a Year

Facebook parent Meta Platforms Inc. on Wednesday reported its first increase in sales in nearly a year due to continued improvements in its advertising business, as the company continues to pare back spending during what Chief Executive Mark Zuckerberg has called a “year of efficiency.”

Mr. Zuckerberg attributed some of these 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.