Facebook owner Meta Platforms ( META ) provided the tonic investors needed with its fourth-quarter results by vowing to make 2023 a "year of efficiency" for the beleaguered social media giant. Meta stock soared as the company tried to make good by announcing $40 billion in new share repurchases, on top of recent job reductions. "Our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization," Meta Chief Executive Mark Zuckerberg said in a written statement with the earnings release . The company reported adjusted earnings of $1.76 a share on revenue of $32.16 billion. Analysts expected revenue of $31.55 billion, according to FactSet. An earnings comparison with analyst estimates was not available due to restructuring charges reported by the company But Meta provided a revenue outlook that outpaced estimates. For its first quarter, the company expects revenue in the range of $26 billion to $28.5 billion. The midpoint of $27.25 billion is above estimates for $27.1 billion. Meta stock soared 23.3% to close at 188.77 on the stock market today . Difficult Year For Meta The earnings report comes after a highly difficult year for Meta, which announced […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
