Altimeter Capital's Brad Gerstner Issues Open Letter to Meta (META) and Mark Zuckerberg
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Go back to Altimeter Capital's Brad Gerstner Issues Open Letter to Meta (META) and Mark Zuckerberg
October 26, 2022 4:38 PM EDT
Goldman Sachs analyst Eric Sheridan comments "We would expect investors to have an initial negative reaction to META's Q3 22 earnings report with a mixed set of results. On the positive, FX-neutral advertising revenue growth of +3% YoY was better than feared and in the top end of the guided range. In... More
October 26, 2022 4:24 PM EDT
JPMorgan analyst Jack Atherton comments "META (-11% post mkt): Q3 revenue +2% FXN vs whispers +LSD%. Reported revenue $27.7b (-4%) vs guide $26.0- 28.5b. Family DAPs 2.93b vs Q2 2.88b; Facebook DAUs 1.98b vs Q2 1.97b. EPS $1.64 vs St $1.90. On the outlook, mgmt guiding to Q4 $30.0-32.5b... More
October 24, 2022 10:39 AM EDT
In an open letter to Meta Platforms (NASDAQ: META) on Monday, Altimeter Capital Chair and CEO Brad Gerstner said that the social media and metaverse company needs to get its mojo back and re-build confidence with investors through a reduction in headcount, Capex and limiting investment in the metaverse.
Gerstner recommends that Meta reduce its headcount expense by at least 20%, lower annual Capex by at least $5 billion from $30 billion to $25 billion, and limit investment in its metaverse/Reality Labs division to... More
October 24, 2022 10:36 AM EDT
Meta Platforms (NASDAQ: META) Quickly Erases Decline, Back to Flat
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