Meta Platforms (NASDAQ: META) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) recently wrapped up 2022 by reporting earnings for the fourth quarter and fiscal years. Although these internet companies are different -- one is a social media giant, and the other is known for its search engine -- both companies depend heavily on advertising dollars to make money.

Wall Street was seemingly more excited about Meta's results, given the stock's 27% run over the past five days, compared to just 5% for Alphabet. But did the market get it right? Which stock is the better buy right now and moving forward? I'll show you the important clues to help you make the right decision.

Both companies have seen revenue growth decline, and the fourth quarter wasn't any different. Advertising is sensitive to the economy; brands will spend less on ads if they don't think consumers will buy anything. Rapidly rising interest rates have drummed up recession fears throughout this year, so that shouldn't be a surprise.

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Source Fool.com