9/7/2023 0 Comments Meta stock price facebookDaily active users across all of Facebook’s apps neared, but did not crest, another round number, reaching 2.96 billion, up 5% from a year ago. Read more: Snap suffers worst sales growth yet in holiday quarter, stock plunges after earnings missįacebook’s 2 billion-user milestone was slightly better than analysts expected for user growth on Meta’s core social network. Beyond this, our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization.” “The progress we’re making on our AI discovery engine and Reels are major drivers of this. Facebook just reached the milestone of 2 billion daily actives,” Meta Chief Executive Mark Zuckerberg said in a statement announcing the results. “Our community continues to grow and I’m pleased with the strong engagement across our apps. Shares jumped more than 19% in after-hours trading immediately following the release of the results, after closing with a 2.8% gain at $153.12.īenefited from Meta’s results, with shares for each company rising more than 4% in extended trading Wednesday. Facebook Chief Financial Officer Susan Li projected first-quarter sales of $26 billion to $28.5 billion, while analysts on average were projecting first-quarter sales of $27.2 billion. Analysts polled by FactSet expected Meta to post fourth-quarter revenue of $31.55 billion on earnings of $2.26 a share, and the beat on sales coincided with a revenue forecast that also met or exceeded expectations.
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