Meta's Cost Cuts Are Starting to Pay Off. Time to Buy the Stock?
Coming into Meta Platforms' (NASDAQ: META) fourth-quarter earnings report on Wednesday, investors had low expectations.
The stock had plunged following its third-quarter earnings report after the company said its losses in Reality Labs could balloon to $15 billion to $20 billion in 2023. It also reported its second-ever decline in revenue due to slowing ad demand, competition from TikTok, Apple's targeting restrictions, and a stronger U.S. dollar.
On the surface, fourth-quarter results weren't much better. Revenue fell 4% to $32.2 billion, reflecting declines in both its family of apps and Reality Labs segments, but that still beat the analyst consensus at $31.5 billion.
Source Fool.com