The tech giant’s sales of apps and services helped profit grow 7 percent from a year ago, even as the company contended with slumping sales in China.

President Trump had sued Meta and other tech firms in 2021, arguing that he had been wrongfully censored by them. Meta also reported revenue and profit growth for the fourth quarter.

The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.

The tech giant’s revenue was up 12 percent to $69.6 billion, but investors are showing their nerves after a long boom for tech stocks.

But high medical costs contributed to results that disappointed Wall Street, and the company’s stock fell on the news that it had made less than analysts expected.

The largest banks, including JPMorgan Chase, Wells Fargo and Goldman Sachs, reported bumper profits on Wednesday.

The industry is enjoying a strong demand for tickets and rising profits, but it remains vulnerable to unexpected problems like a recession or a surge in inflation.

The electric-car company led by Elon Musk no longer has the market to itself. Investors are focusing on autonomous driving and other new technologies.