Other analysts cheered the results, pointing to strong engagement, rising monetization of its TikTok rival Reels and return on investments in artificial intelligence as bright spots in the report.īank of America analyst Justin Post upped his price target on Meta shares to $375 from $350 and reiterated his buy rating on the stock. "While there were some mixed narratives (both qualitative and quantitative) around opex/capex in 2023/2024, our view is that management's 'year of efficiency' theme continues to drive a sustained mentality shift inside the company - while long-term investments behind key objectives remain a focus area (in terms of infrastructure & talent), we expect management to continue to balance driving growth and increased returns," Goldman Sachs analyst Eric Sheridan, who maintains a buy rating on Meta shares, wrote in a Thursday note. The results reflect a rebound in online advertising, as well as signs that Meta CEO Mark Zuckerberg's "year of efficiency," or focus on cutting costs and improving profitability, is paying off. That's above the $31.3 billion analysts were expecting. Personal Loans for 670 Credit Score or Lowerįor the third quarter, the Facebook parent company forecast revenue of $32 billion to $34.5 billion. Personal Loans for 580 Credit Score or Lower Employee options vest on Feb 15, and annual bonuses hit in March – both of which could be factors in workers’ potential decisions to leave, according to another person familiar with the company’s plans.Best Debt Consolidation Loans for Bad Credit He added that based on his life experience, transitioning to a four-day work week all the time would not be productive.įacebook employees, like many in the technology industry, tend to be heavily compensated via shares. He also encouraged exhausted employees to use their vacation days. At the same time, the stock forecast for Meta is currently seeming weak at this point in time. The social media giant is thinking of extending existing three-day holiday weekends, Zuckerberg said, responding to a question on burnout. Despite the efforts to rescue Facebook from losing investment due to being ex-growth and facing intense competition from video-based social platforms like TikTok, Meta & Facebook’s stock plunged. Meta is already talking about ways to retain staff amid the stock rout. Zuckerberg’s own wealth dropped by US$31bil (RM129.56bil). Others fretted about what a continued decline might mean for their net worth, according to people familiar with the matter. Some were discussing buying shares during the dip, believing in Zuckerberg’s long-term vision for the metaverse, an immersive version of the internet. Illustration by Alex Castro / The Verge The price of shares in Meta the parent company of Facebook, WhatsApp, Instagram, and Meta Quest (fka Oculus) dropped more than 25 percent at the. Facebook lost a record $251 bil (RM1.05bil) of value in a single day. Meta stock drops 26 in a day, Mark Zuckerberg's wealth down by 29.Meta’s Instagram app has a copycat of TikTok called Reels, which the company is now prioritising.Įmployees were glued to the stock price. Meta CEO Zuckerberg, wife Chan to invest up to 3.4 bn for science advances Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an “unprecedented level of competition,” with the rise of TikTok, the rival viral-video platform. It is important to focus on growing Facebook’s short-video product, he said. Zuckerberg tells staff to focus on video products as Meta’s stock plunges Facebook loses a record 251bn of value in a single day. Meta Portal is another component that offers dedicated devices for video. His red, teary eyes were the result of a scratched cornea, the Facebook founder said Thursday, rallying employees as Meta Platforms Inc.’s stock price lost more than a quarter of its value.Īt a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Meta’s weak forecast for revenue in the current quarter, according to a person who attended and was not authorised to speak about it. Facebook (Meta) generates most of its revenue from selling advertising space. Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |