Meta Platforms, the giant headed by CEO Mark Zuckerberg, records a quarterly performance above expectations, displacing the market with a flight of more than 20% in the afterhours of Wall Street
Investors probably trusted Zuckerberg following his statements in reference to the new company policywhich will focus entirely on artificial intelligence, paving the way for the metaverse.
Investors perceived the utterances of the Chief Executive Officer as a strong will to fully resolve the problems currently encountered by the millions of users registered on the Meta platforms. In particular, reference is made to messaging, with the company ready to operate more efficiently, towards faster decisions, taken through the implementation of artificial intelligence, in support of the engineering department. By doing so, the organizational structure will be streamlined, so that problems can be solved more quickly, without too much hesitation.
Quarterly result
Referring to the data of the fourth quarter of 2022, the revenues of Meta they fell 4% to $32.2 billion, thus marking a further decline, for the third consecutive period. Despite this, contrary to what might have been expected, the numbers turned out to be slightly higher, displacing industry experts.
In particular, there is a drop in revenue from Reality Labs, a division dedicated to the design of virtual and augmented reality. The aforementioned unit increased from revenues equal to 877 million dollars, relating to the last quarter of 2021, to 727 million dollars, with a liability of $4.3 billionagainst 3.3 billion in Q4 last year.
Reassuring news comes from data reporting the growth in the number of users, with a monthly increase of 4% a 3.74 billion active profileswith the Facebook application recording a leap of 2% to 2.92 billion users, more than 70 million compared to the previous year.
Meta Platforms: first quarter 2023 forecasts
The company forecasts for the first quarter of 2023 a turnover estimated between 26 and 28.5 billion dollars. Expenditures, on the other hand, would amount to figures close to 90 billion dollars, lower than previously forecasts, included in the range of 94-100 billion dollars. Estimates also indicate a drop in expenditure for restructuring from the current 2 billion to 1 billion dollars.
Numbers that encourage investors, limiting their worries about the estimated onerous figures for virtual reality projects. Meta Platforms has also announced its willingness to carry out new buyback operations, with a repurchase of its shares of 40 billion dollars.
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