Meta

Social media giant reports Q4 results on Wednesday, along with many other tech companies this week. Analysts will determine if Meta's cost-cutting boosted ...

[GOOGL](https://www.investopedia.com/markets/quote?tvwidgetsymbol=GOOGL)), Amazon Inc. ( [AMZN](https://www.investopedia.com/markets/quote?tvwidgetsymbol=AMZN)), and Apple Inc. [TikTok](https://www.investopedia.com/what-is-tiktok-6826240). That led to Meta [laying off](https://www.investopedia.com/meta-facebook-begins-biggest-layoffs-in-company-history-6827152) 11,000 workers, or nearly 13% of its workforce, just a few weeks after its third-quarter earnings were released.2 This metric is used to count the number of unique users who visited a site within the past month. This revenue number is in line with what Meta itself expected. ( [AAPL](https://www.investopedia.com/markets/quote?tvwidgetsymbol=AAPL)) are also facing headwinds to expansion and will be reporting earnings this week as well. Shrinking advertising revenue and higher costs will likely weigh down the tech company's earnings on Wednesday. [Visible Alpha](https://visiblealpha.com) [interest rate hikes](https://www.investopedia.com/articles/investing/010616/impact-fed-interest-rate-hike.asp) are making borrowing more expensive. [earnings per share (EPS)](https://www.investopedia.com/terms/e/eps.asp) are projected to fall 40% to $2.20 compared with the fourth quarter of 2021, according to Visible Alpha. [META](https://www.investopedia.com/markets/quote?tvwidgetsymbol=META)), the parent company of Facebook, is expected to report a 43% drop in its fourth-quarter net income compared with the same quarter the previous year.

Its A- Accumulation/Distribution Rating, on an A+ to E scale, shows big investors such as ETFs think better days are ahead for Meta stock.

Start Here](https://www.investors.com/how-to-invest/investors-corner/looking-for-the-best-stocks-to-buy-and-watch-start-here/) The exclusive Relative Strength Rating from Investor's Business Daily measures share price action with a 1 (worst) to 99 (best) score. [best stocks to buy and watch](https://www.investors.com/stock-lists/stocks-to-watch-top-rated-ipos-big-caps-and-growth-stocks/), one factor to watch closely is relative price strength. [META](https://research.investors.com/quote.aspx?symbol=META)) will announce its fourth quarter earnings results today after the market closes. Meta stock holds the No. [Privacy Policy](https://www.investors.com/investors-business-daily-privacy-policy/) & [Terms of Use](https://www.investors.com/home/investors-business-daily-inc-terms-of-use/) 17 rank among its peers in the Internet-Content industry group. Meta posted a profit in Q3, although it dropped 49% from the same quarter a year earlier, to $1.63 per share. Meta stock has since climbed about 60% and traded at 148.19 Tuesday afternoon, up fractionally for the day. Menlo Park, Calif.-based Meta Platforms, formerly known as Facebook, is among the FANG stocks that plunged during the 2022 bear market. [check out these stories](https://www.investors.com/news/technology/facebook-fb-stock-quotes-company-news-and-chart-analysis/). Investors are looking for a return to year-over-year profit growth to spark a rise.

Amazon Inc., Alphabet Inc. and Meta Inc. face shareholder proposals from human rights activists seeking greater transparency from the tech companies on a ...

and Alphabet Inc. Amazon Inc. Amazon Inc., Alphabet Inc.

Meta Platforms (META 1.30%) had an awful 2022. Revenue growth stalled at just the wrong time for the social media business, leading to collapsing earnings ...

And if both metrics have started rebounding, Meta shares have a good chance at outperforming the market in 2023 after posting their worst year yet last year. The Reality Labs division, home to the Quest VR brand, is projecting accelerating losses in 2023 as spending ramps up in areas like hardware and the metaverse. "The fundamentals are there for a return to stronger revenue growth," Zuckerberg told investors in late October. Ideally, executives will back up those words with more concrete signs of a rebound in the early February update. Revenue growth stalled at just the wrong time for the social media business, leading to collapsing earnings in the nine months that ended in late September. The company will close out 2022 with its Q4 earnings announcement in early February that's expected to show a 3% sales drop.

Meta's investments in artificial intelligence could lead to upside heading into this week's earnings report · What's News · Stocks Rise as Investors Look to Fed ...

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The past few months have been amazing for shareholders of Facebook parent Meta Platforms, with shares roaring higher. See why I rate META stock as a strong ...

For instance, using estimates for the 2022 fiscal year, with adjusted operating cash flow pegged at $44.24 billion and EBITDA of $42.48 billion, I calculated a price to adjusted operating cash flow multiple of 8.7 and an EV to EBITDA multiple of 8.3. His primary focus is on finding businesses that are trading at a significant discount to their intrinsic value by employing a combination of Benjamin Graham's investment philosophy and a contrarian approach to the market and the securities therein. Based on these figures, the company is trading at a forward price to adjusted operating cash flow multiple of 12.6 and at a forward EV to EBITDA multiple of 12. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Even in the most developed market for the company, the US and Canada, growth from the third quarter of 2021 to the third quarter of 2022 totaled roughly 4 million MAUs. So far, the company has invested a tremendous amount of money with little in the way of return. I suspect that shares of the company would move materially higher in response to such a development. While MAU (monthly active user) count for the company slowed to a crawl in the US and Canada, and experienced a decline throughout Europe (largely due to the war in Ukraine), MAU count for the company shot up. In the US and Canada, the aforementioned $49.13 was down from the $52.34 reported one year earlier, while in Europe it had fallen from a point of $16.50 one year earlier. Because of broader economic conditions, I'm not surprised to see ARPU fall in the markets in which the company operates. Up to that point, for the first nine months of the year, the company generated a loss of $9.4 billion. Having said that, it is also true that shares of the company have roared higher in recent months after previously falling in excess of 70% at one point last year.

Today's instrument is the Meta Platforms Inc. traded in Nasdaq exchange under the ticker META. Looking at the META's chart, we can see that it was las.

The US Federal Reserve is set to raise rates by 25 bps despite some signs of economic weakness. Gold price has gained traction and advanced to the $1,930 area on Wednesday. Bitcoin, Ethereum and altcoins yielded double-digit gains over the past month, recovering from the FTX-collapse induced meltdown. GBP/USD is struggling to make a decisive move in either direction and trading near Tuesday's closing level slightly above 1.2300. [chart](https://www.fxstreet.com/rates-charts/chart), we can see that it was lastly traded at around $148.95. Information presented herein is not to be construed as a solicitation or an offer to buy or sell any Financial Instrument or to participate in any trading strategy. EUR/USD has gained traction and advanced toward 1.0900 on Wednesday. [Read more](https://www.fxstreet.com/analysis/federal-reserve-preview-the-good-the-bad-and-the-ugly-why-the-us-dollar-would-rise-202301310838) [Read more](https://www.fxstreet.com/cryptocurrencies/news/is-a-crypto-market-meltdown-looming-after-massive-gains-in-bitcoin-ethereum-and-altcoins-in-january-202302010804) [Federal Reserve Preview: The Good, the Bad and the Ugly, why the US Dollar would rise](https://www.fxstreet.com/analysis/federal-reserve-preview-the-good-the-bad-and-the-ugly-why-the-us-dollar-would-rise-202301310838) Premium [GBP/USD News](https://www.fxstreet.com/news?q=&hPP=17&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=GBPUSD) [Gold price rises to $1,930 as US yields edge lower](https://www.fxstreet.com/markets/commodities/metals/gold) [Gold News](https://www.fxstreet.com/markets/commodities/metals/gold) [Is a crypto market meltdown looming after massive gains in Bitcoin, Ethereum and altcoins in January?](https://www.fxstreet.com/cryptocurrencies/news/is-a-crypto-market-meltdown-looming-after-massive-gains-in-bitcoin-ethereum-and-altcoins-in-january-202302010804) [EUR/USD News](https://www.fxstreet.com/news?q=&hPP=17&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=EURUSD) [GBP/USD holds steady above 1.2300, eyes on Fed](https://www.fxstreet.com/currencies/gbpusd)

What's News · Stock Futures Inch Lower Ahead of Fed Rate Decision · Investors Shrug Off Weak Earnings Reports as Stocks Rebound to Start Year · BP's CEO Plays Down ...

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Meta Platforms reports Q4 earnings Wednesday after the bell, and 2023 couldn't be any more in focus. See an earnings preview of META stock here.

I'm looking for evidence management is finding traction in the AI department and has begun shifting more of its products to rely on AI on the earnings call. In times past, Mark and his team have worked from a position of strength, having the best ad product on the market with the best results. If he shows progress on the ad business returning and metaverse expenses being kept in check but working forward, all will be smooth in the land of Mark. And it's not like this advancement in AI ad technology will go to waste with the transition to the next medium. He previously worked in the IT field of the healthcare industry for a major teaching hospital and practice group working mostly with integration engines for use with hundreds of systems as well as end user application access and security including single sign-on. This is what investors can get behind and will if the company can prove it's making headway to reverse revenue growth declines and making inroads against the headwinds iOS - and soon-to-be Android - privacy changes are creating. The entire point of the metaverse is to bring the experience to Meta's house as opposed to relying on the platforms of its large audience hosts like Apple and Google (not to mention ad competitors in the latter's case). With headcount reductions already in place and other spending constraints outlined, management just needs to follow through with the numbers. The Q4 report may be more of the same as Q3, with poor revenue growth and exceedingly high expenses, but it's going to be about Q1's guidance and if the trend will reverse. After Meta's push to go all in on the "metaverse" in 2021, the macroeconomic stage took a turn. They must move forward to a new platform business model but not spend themselves into the ground in the meantime. However, if Mark Zuckerberg can provide evidence the company's revenue growth slide ends in 2022 and expenses truly come under control, the stock may have a fighting chance to find itself higher in the first half of 2023.

Meta's earnings release a year ago ushered in what was the biggest one-day loss in market capitalization for a stock in the history of U.S. companies.

To blame for the slide were results from Snapchat owner ](https://www.barrons.com/market-data/stocks/snap) ](https://www.barrons.com/market-data/stocks/meta)

A rise in a key advertising metric for Snap Inc that reported an otherwise insipid quarter could bode well for Facebook owner Meta Platforms and Alphabet, ...

A rise in a key advertising metric for Snap Inc that reported an otherwise insipid quarter could bode well for Facebook owner Meta Platforms and Alphabet, ...

Snap Inc blamed a poor economy and increased competition for its ho-hum quarterly earnings, but a rise in the key ad metric could mean good news for ...

Snap's challenges, including privacy changes on Apple Inc devices that have made it harder for marketers to collect data, are not unique to the company. Meta has said the bulk of its revenue also comes from direct response advertising. But Snap's direct response advertising business, which is key for market leaders Meta and Google, was a bright spot.

“These aren't small declines either, with operating profit expected to come in around $7.7 billion–that'd be down 39% year on year.” Off the back of ...

It also dragged other ad-reliant stocks like Meta and Pinterest down [by 2% and 5%](https://www.cnbc.com/2023/01/31/snap-earnings-q4-2022.html)respectively. At the end of last quarter, YouTube posted its [first-ever fall](https://qz.com/youtube-became-the-latest-casualty-of-big-techs-ad-reve-1849703446) in ad revenue, and that business likely [continued to struggle](https://www.investors.com/news/technology/google-stock-q4-google-earnings-preview-youtube/). (They both recovered.) [11%:](https://www.axios.com/2023/01/31/snap-earnings-gloomy-tech)Decline in Snap’s revenue from brand advertising, aimed at promoting a brand’s image. [12,000 job cuts](https://qz.com/google-tech-layoffs-2023-alphabet-sundar-pichai-1850010865) just last week, will likely witness a [significant slide](https://www.investopedia.com/alphabet-q4-2022-earnings-preview-7104098) in ad revenue—one that even its growing [cloud business](https://www.investopedia.com/alphabet-q4-2022-earnings-preview-7104098) can’t make up for. [it would cut 11,000 jobs](https://qz.com/zuck-wants-you-to-know-he-s-sorry-about-laying-off-th-1849761562) in November. [$1.3 billion:](https://www.cnbc.com/amp/2023/01/31/snap-earnings-q4-2022.html)Snap’s revenues were flat for the fourth quarter, missing the expected $1.31 billion [2-10%:](https://www.computing.co.uk/news/4073371/snap-bellwether-online-stock-drops-tough-conditions)How much Snap told investors it expects revenues to drop in the current quarter, as it restructures to deal with economic headwinds, Apple’s privacy changes, and burgeoning competition from rivals like TikTok. “I believe that we need to zoom out to get proper perspective. [15%:](https://in.investing.com/analysis/snap-tumbles-despite-beating-earnings-expectations-200563286)How much shares in Snap Inc. Just like Meta and Alphabet’s Google and YouTube, Snap heavily relies on ad spending, and its results painted a gloomy picture. Snap, the parent company of messaging app Snapchat, reported its earnings yesterday (Jan. “Meta finds itself in somewhat of a downward spiral. [today (Feb.

Meta Platforms Inc. won court approval to buy virtual reality startup Within Unlimited, defeating an effort to block the deal by the US Federal Trade ...

Meta can move forward with its acquisition of virtual reality startup Within, a report from Bloomberg says. According to the report, Judge Edward Davila ...

The U.S. Federal Trade Commission on Tuesday asked a judge to put a hold on Meta Platforms Inc's deal to buy virtual reality app maker Within Unlimited ...

Or, the agency said in a court filing, the judge could extend the existing temporary restraining order for 7 days. The agency asked for the court to order Meta to refrain from closing its deal for Within until 11:59 p.m. There was a trial on the case in December.

A rise in a key advertising metric for Snap Inc that reported an otherwise insipid quarter could bode well for Facebook owner Meta Platforms and Alphabet ...

But it has the "added challenge of being a small player," said Jasmine Enberg, principal analyst at Insider Intelligence. Meta has said the bulk of its revenue also comes from direct response advertising. But Snap's direct response advertising business, which is key for market leaders Meta and Google, was a bright spot. Register for free to Reuters and know the full story [(AAPL.O)](https://www.reuters.com/companies/AAPL.O) devices that have made it harder for marketers to collect data, are not unique to the company. [(SNAP.N)](https://www.reuters.com/companies/SNAP.N) that reported an otherwise insipid quarter could bode well for Facebook owner Meta Platforms [(META.O)](https://www.reuters.com/companies/META.O) and Alphabet [(GOOGL.O)](https://www.reuters.com/companies/GOOGL.O), analysts said on Wednesday.

Meta (META) is set to report its Q4 2022 earnings today after the bell, capping off a tough year for the Facebook parent. Here's what analysts are expecting ...

A judge has denied the FTC's request to block Meta's acquisition of VR startup Within, which makes the Supernatural fitness app, with a delay for an appeal.

[The FTC sued](https://www.theverge.com/2022/7/27/23281033/ftc-meta-within-complaint-block-acquisition-vr-fitness-beat-saber) in July of 2022 to stop Meta’s acquisition of Within, which makes the popular VR app Supernatural. “Out of respect for the court’s orders, the FTC is not in a position to comment at this time,” FTC director of public affairs Douglas Farrar told The Verge in response to a request for comment. Nonetheless, the decision could indicate an uphill battle to limit tech industry consolidation — despite persistent attempts to give antitrust watchdogs teeth. The commission highlighted Meta’s previous merger with the company behind Beat Saber in 2019, claiming that the addition of Within would eliminate a “ [beneficial rivalry](https://www.documentcloud.org/documents/22122050-ftc-meta-merger-complaint)” between the two companies. If this week’s order stands, it would represent a loss for agency head and antitrust crusader Lina Khan. [Bloomberg reports](https://www.bloomberg.com/news/articles/2023-02-01/meta-wins-court-nod-to-buy-virtual-reality-startup-in-loss-for-lina-khan-s-ftc?sref=ExbtjcSG) that a pair of sealed orders deny the FTC’s request to block the deal but with a one-week delay that will give the FTC time to appeal.

Facebook parent Meta is reporting results following a year in which the stock lost almost two-thirds of its value.

Meta said last quarter that "Reality Labs operating losses in 2023 will grow significantly year-over-year." The big bet has frustrated investors, who worry the company is putting too much focus on a futuristic endeavor while its core ad business struggles to revive growth. [Apple's](/quotes/AAPL/) 2021 iOS privacy update. The company also said its "internal forecast" assumes a revenue drop in the first quarter of between 2% and 10%. Zuckerberg has said the metaverse, which would include virtual reality and augmented reality technologies, could represent the next major way people interact. While the stock market started to rebound in January from a brutal 2022, economic forecasts still show a fairly gloomy 2023, which could spell continuing trouble for the online ad market.

Facebook parent Meta Platforms is scheduled to report quarterly results after the bell. The company, which also owns Instagram and WhatsApp, is expected to ...

That would be a 41% decline from a year ago.\n\nLast year, Meta's shares fell by about two thirds, erasing more than $600 billion in market value. And check back later today for updates on the company's results. Facebook parent Meta Platforms is scheduled to report quarterly results after the bell.\n\nThe company, which also owns Instagram and WhatsApp, is expected to post its third straight quarter of declining sales as it faces tougher competition for advertising dollars from TikTok and other social media rivals.\n\nHere's what analysts are expecting, according to FactSet:\n\nRevenue of $31.6 billion.

Meta Platforms Inc. is scheduled to report earnings after today's close. The stock hit a record split adjusted high of $384.33/share in 2021 and is ...

Technically, the stock has been under a lot of pressure over the past year and it is down around 60% from the bear market high in 2021. The stock is trying to bottom and just had a very big run from $88-$150. The company is expected to report a gain of $2.12/share on $31.80 billion in revenue. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Remember, always keep your losses small and never argue with the tape. Conversely, if the numbers disappoint, the stock can easily gap down.

The ruling, which is under seal, is a defeat for the Federal Trade Commission, which tried to block Meta's deal with a rarely used antitrust argument.

Last month, the Department of Justice [accused Google of abusing a monopoly](https://www.nytimes.com/2023/01/24/technology/google-ads-lawsuit.html) over the technology that places ads on websites. Zuckerberg](https://www.nytimes.com/2022/12/20/technology/zuckerberg-meta-ftc-virtual-reality.html) if it was true that acquiring or developing a fitness app kept him up at night. The F.T.C. The case was heard in San Jose, Calif., in December. chairman, said the sealed ruling in the Meta case would be more problematic for the agency if the judge panned the legal theories underpinning the challenge. [A federal judge, meanwhile, refused to block Meta’s purchase of Within](https://www.nytimes.com/2023/02/01/technology/meta-within-deal-ftc.html?action=click&pgtype=Article&state=default&module=styln-big-tech&variant=show®ion=MAIN_CONTENT_1&block=storyline_top_links_recirc), a virtual reality start-up. Do the sources know the information? [she wrote a critique of Amazon](https://www.nytimes.com/2018/09/07/technology/monopoly-antitrust-lina-khan-amazon.html) that went viral, to be filed in court. also [challenged Microsoft’s $69 billion purchase](https://www.nytimes.com/2022/12/08/technology/ftc-microsoft-activision.html) of the video game publisher Activision Blizzard in December. Khan has argued that the F.T.C. The company has invested billions of dollars in becoming a powerhouse of the so-called metaverse, where users work, play and consume content through virtual and augmented reality. The case was aimed at testing that line with a

Free cash flow will be in focus for Meta Platforms' year end results as investors seem to be softening their opposition to the company's metaverse ambitions ...

For the rest of the year, analysts are expecting FCF of 55 cents a quarter or better. Investors will be closely looking at the company’s cash management in light of the uncertain economy and its effect on advertising revenue. Shmulik attributes this premium to the layoffs and other cost cuts announced after the poor Q3 results. Reality Labs is expected to generate an operating loss of $4.4 billion for the quarter, bringing the shortfall for the year to $13.8 billion. Meta did not reveal how many of the staff cuts were from Reality Labs but it did say the reductions were throughout the company. Meta’s shares are trading around $149, up 67% from their nadir right after the company announced a 4% drop in sales and earnings per share that missed Wall Street expectations by 13%.

Of all FAANG stocks, Meta (NASDAQ:META) had the most depressing 2022, with the shares contracting by 65% over the course of the year.

It all amounts to a positive assessment of Meta’s prospects, especially considering the lowered expectations. And going by the recent workforce reductions, Meta appears to be taking a more prudent approach to investments. Against this backdrop, between FY22 and FY30, Black is looking for revenue CAGR (compound annual growth rate) of ~8%. It is very important to do your own analysis before making any investment. As such, between FY22 and FY30, Black sees EBITDA margins expanding by 600bps from ~44% to ~50%. The downturn was driven by several headwinds including softness in the broader ad market, the ongoing rise of rival TikTok, exposure to IDFA and the continued losses as a result of chasing its metaverse ambitions.

MENLO PARK, Calif., Feb. 1, 2023 /PRNewswire/ -- Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter and full year ended ...

[investor.fb.com](https://c212.net/c/link/?t=0&l=en&o=3770902-1&h=3123268191&u=https%3A%2F%2Finvestor.fb.com%2Fhome%2Fdefault.aspx&a=investor.fb.com) and on the SEC website at [www.sec.gov](https://c212.net/c/link/?t=0&l=en&o=3770902-1&h=1476428473&u=https%3A%2F%2Fprndl2-irisxe1.prnewswire.local%2Fewebeditor%2Fwww.sec.gov&a=www.sec.gov). [investor.fb.com](https://c212.net/c/link/?t=0&l=en&o=3770902-1&h=3123268191&u=https%3A%2F%2Finvestor.fb.com%2Fhome%2Fdefault.aspx&a=investor.fb.com), along with the earnings press release, financial tables, and slide presentation. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: the impact of macroeconomic conditions on our business and financial results, including as a result of the COVID-19 pandemic and geopolitical events; our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on data signals and mobile operating systems, networks, and standards that we do not control; changes to the content or application of third-party policies that impact our advertising practices; risks associated with new products and changes to existing products as well as other new business initiatives, including our metaverse efforts; our emphasis on community growth and engagement and the user experience over short-term financial results; maintaining and enhancing our brand and reputation; our ongoing privacy, safety, security, and content review efforts; competition; risks associated with government actions that could restrict access to our products or impair our ability to sell advertising in certain countries; litigation and government inquiries; privacy, legislative, and regulatory concerns or developments; risks associated with acquisitions; security breaches; and our ability to manage our scale and geographically-dispersed operations. Following the call, a replay will be available at the same website. Meta will host a conference call to discuss the results at 2 p.m. During the quarter ended December 31, 2022, we took several measures to pursue greater efficiency and to realign our business and strategic priorities. - Headcount – Headcount was 86,482 as of December 31, 2022, an increase of 20% year-over-year. This includes charges related to our restructuring efforts of $4.20 billion and $4.61 billion in the fourth quarter and full year 2022, respectively. - Revenue – Revenue was $32.17 billion and $116.61 billion, a decrease of 4% and 1% year-over-year for the fourth quarter and full year 2022, respectively. (Nasdaq: META) today reported financial results for the quarter and full year ended December 31, 2022. For the full year 2022, ad impressions increased by 18% year-over-year and the average price per ad decreased by 16% year-over-year. 1, 2023 /PRNewswire/ -- Meta Platforms, Inc.

Meta Platforms Inc. reported better-than-expected sales during the holiday quarter, fueled by strong demand for advertising as it attracted more users to ...

A district court judge in California ruled against the Federal Trade Commission in its challenge to Meta's proposed acquisition to buy Within. The FTC sued to ...

The idea that this acquisition would lead to anticompetitive outcomes in a dynamic space with as much entry and growth as online and connected fitness is simply not credible." [ Khan's vision](https://www.cnbc.com/2022/07/27/facebook-lawsuit-delivers-on-ftc-chair-lina-khans-progressive-agenda.html) of bringing challenging cases that seek to push the bounds of antitrust law. A Meta spokesperson declined to comment. The agency filed an emergency motion on Tuesday seeking to stop Meta from consummating the merger for another week, giving it time to figure out the next steps. [sued to block the merger](https://www.cnbc.com/2022/07/27/ftc-sues-to-block-facebook-owner-meta-from-buying-vr-fitness-app-maker.html) in July, arguing Meta was using the deal "to buy its way to the top," rather than compete on its own merits, Bureau of Competition Deputy Director John Newman said in a statement at the time. - The FTC sued to block the merger in July, arguing Meta was using the deal "to buy its way to the top."

Parent of Facebook also announces additional $40bn for stock buybacks.

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The company, which is in the midst of shifting to become a metaverse business, also forecast revenue would beat Wall Street predictions.

Better A.I., he has said, will drive better content recommendations across the company’s marquee products — like Reels, the TikTok-like video feature inside of Instagram and Facebook — which in turn will result in people spending more time across its family of apps. But he also blamed himself, in part, as he and other tech executives pointed to their overhiring exuberance in the early days of the pandemic. The company has invested in artificial intelligence in hopes of improving its business over time. It cut 13 percent of its work force in November, eliminating the positions of roughly 11,000 of its employees, especially in the recruiting and business divisions. As the world was ordered to shelter in place, the pandemic brought with it a surge of people relying on online products and services more than ever before, which in turn caused tech companies to add new positions at a rapid clip. [several](https://www.nytimes.com/2022/10/26/technology/meta-facebook-q3-earnings.html) quarters of slowing growth and a [first-ever revenue decline](https://www.nytimes.com/2022/07/27/technology/meta-earnings-revenue-decline.html) last summer as Meta’s woes mounted. He is pursuing his vision of the metaverse, a next-generation version of the internet he believes will connect different worlds, from augmented and virtual reality to different kinds of gaming worlds and other experiences. After 18-plus years of rocket-ship growth of user and revenue, the company runs the risk of churning through its longtime users as they depart for greener pastures found in newer apps like TikTok, the short-form video app. Revenue fell 4 percent to $32.16 billion from a year earlier, coming in at the higher end of the company’s guidance and above Wall Street predictions. But even after the layoffs, [their work forces are still behemoths](https://www.nytimes.com/2023/01/21/business/tech-layoffs.html?action=click&pgtype=Article&state=default&module=styln-big-tech&variant=show®ion=MAIN_CONTENT_1&block=storyline_top_links_recirc). And it authorized a further $40 billion in stock buybacks, after repurchasing roughly $28 billion of its own shares last year. The charge dragged down Meta’s profits, with net income falling 55 percent to $4.65 billion in the fourth quarter from a year ago.

Meta Platforms Inc's stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called ...

31, however, fell to $4.65 billion, or $1.76 per share, compared with $10.29 billion, or $3.67 per share, a year earlier. "We just grew so quickly for like the first 18 years," Zuckerberg said in a conference call. Analysts expected a profit of $2.22 per share. I just think we're in a different environment now." [(GOOGL.O)](https://www.reuters.com/companies/GOOGL.O) were up 3.3% and Snap Inc [(SNAP.N)](https://www.reuters.com/companies/SNAP.N) stock rose 1% in after-hours trade on Wednesday. "Our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization," Zuckerberg said in a statement. Meta stock surged nearly 19% in after-hours trade. [cut more than 11,000 jobs](/technology/meta-cut-more-than-11000-jobs-one-biggest-us-layoffs-this-year-2022-11-09/) in response, a precursor to the tens of thousands of layoffs in the tech industry that followed. Register for free to Reuters and know the full story [(AAPL.O)](https://www.reuters.com/companies/AAPL.O) privacy updates continued to challenge the business of placing targeted ads. Chief Executive Mark Zuckerberg described the focus on efficiency as part of the natural evolution of the company, calling it a "phase change" for an organization that once lived by the motto "move fast and break things." [(META.O)](https://www.reuters.com/companies/META.O) stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the "Year of Efficiency."

In its first full year as a separate business, Meta's Reality Labs unit racked up huge costs, bringing its total operating loss to $13.72 billion.

This week, Meta is running a sale on its high-end VR headset, shaving off $400 for a limited time. The company said at the time that the price hike was necessary to account for inflationary pressures. declined 2% in 2022 from the prior year as of early December, according to data shared with CNBC by research firm NPD Group. In other words, the division lost more than six times the amount of money it generated in revenue last year, while accounting for less than 2% of total sales at Meta. [told](https://www.cnbc.com/2022/06/22/mark-zuckerberg-envisions-1-billion-people-in-the-metaverse.html) CNBC's Jim Cramer last summer that he hopes to "get to around a billion people in the metaverse doing hundreds of dollars of commerce" by the second half of the decade. [Sales of VR headset](https://www.cnbc.com/2022/12/28/metaverse-off-to-ominous-start-after-vr-headset-sales-shrank-in-2022.html)s in the U.S. [debuted](https://www.cnbc.com/2022/10/11/mark-zuckerberg-debuts-meta-quest-pro-vr-headset-that-will-cost-1500.html) its more expensive Quest Pro VR headset in October, pitching it to companies as an enterprise-workplace device for $1,500. [earnings report](https://www.cnbc.com/2023/02/01/facebook-parent-meta-earnings-q4-2022.html) after the bell on Wednesday, [Meta](/quotes/META/) said its Reality Labs division, home to the company's virtual reality technologies and projects, posted a $4.28 billion operating loss in the fourth quarter, bringing its total for 2022 to $13.72 billion. Reality Labs generated $727 million in the fourth quarter, and $2.16 billion in revenue for all of 2022 — a decline from $2.27 billion in 2021 — including sales of Quest headsets. [changed the company's name](https://www.cnbc.com/2021/10/28/facebook-changes-company-name-to-meta.html) and said its future would be in the metaverse, a digital universe where people will work, shop, play and learn. [Mark Zuckerberg's](https://www.cnbc.com/mark-zuckerberg/) dream of a future in the metaverse is costing investors a boatload of money. - Meta's Reality Labs unit recorded a $4.28 billion operating loss in the fourth quarter, bringing its total for 2022 to $13.72 billion.

A US judge on Wednesday denied a request by regulators to bar Facebook parent company Meta from buying virtual reality firm Within Unlimited, ...

Meta Platform's shares soared in Wednesday post-market trading as the social-media giant outperformed Q4 expectations. Free cash flow and an increasing ...

“We’re continuing investment in the Reality Labs segment” she said on a conference call to discuss the latest earnings. "Our community continues to grow and I'm pleased with the strong engagement across our apps. This brought the division’s shortfall for the year to $13.7 billion, 34% wider than last year. Zuckerberg announced that Meta will release its third generation VR headset this year, expanding its virtual- and mixed-reality offerings. Facebook just reached the milestone of 2 billion daily actives," Mark Zuckerberg, Meta founder and CEO, said in a statement. [ $31.5 billion expected](https://www.forbes.com/sites/mariagraciasantillanalinares/2023/02/01/meta-investors-ease-up-on-zuckerberg-focus-on-q4-free-cash/?sh=7d9d393920f2) on Wall Street, though still down 4% from last year.

Meta signalled it is on course for a turnaround after its most difficult year. Read more at straitstimes.com.

In the fourth quarter of 2021, by contrast, capital spending was US$5.54 billion. Capital expenditures in the recent quarter soared to US$32 billion. Those efforts are still in their early stages, which means much of the investment is not leading to immediate returns. The company is recovering from the worst year for its stock in history. The company also boosted its stock buyback authorisation by US$40 billion, adding to the US$10.9 billion remaining from previous repurchase programmes. Revenue was US$32.2 billion (S$42 billion), compared with the average Wall Street estimates of US$31.6 billion, according to a Bloomberg survey.

Meta Platforms' stricter cost controls this year and a new US$40 billion share buyback sent shares soaring on Wednesday (Feb 1), as CEO Mark Zuckerberg ...

Analysts expected a profit of US$2.22 per share. "We just grew so quickly for like the first 18 years," Zuckerberg said in a conference call. I just think we're in a different environment now." Meta stock surged nearly 19 per cent in after-hours trade. Advertisement

Shares of Facebook parent company Meta Platforms (META) soared after the social media giant beat revenue forecasts for the fourth quarter of 2022.

Li added that, for the full year, the company's restructuring charges, total expenses, and He added that the company's 2023 management theme is the "Year of Efficiency" with a focus on becoming a stronger and more nimble organization. Analysts had been looking for a little more than $27 billion. [Mark Zuckerberg](https://www.investopedia.com/terms/m/mark-zuckerberg.asp) explained that the progress of Meta's [artificial intelligence (AI)](https://www.investopedia.com/terms/a/artificial-intelligence-ai.asp) discovery engine and its Reels video content format were major drivers of its engagement growth. [Earnings per share (EPS)](https://www.investopedia.com/terms/e/eps.asp) of $1.76 came in short of estimates.1 [META](https://www.investopedia.com/markets/quote?tvwidgetsymbol=META)) shares soared in [extended trading](https://www.investopedia.com/terms/e/extended_trading.asp) after the parent of Facebook, Instagram, and WhatsApp posted better-than-expected revenue, set a user record, and announced a $40 billion [stock buyback](https://www.investopedia.com/articles/02/041702.asp).