Snap's earnings may hold positive news for Meta, Google
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Meta downgraded at HSBC following 4Q miss; announces 2023 as 'year of efficiency'
February 3, 2023 8:26 AM ESTHSBC Global Research downgraded Meta Platforms (NASDAQ: META) to a Reduce rating (From Hold), and reiterated a price target of $110.00, following the social media companys 4Q results. Meta reported 4Q EPS of $1.76, missing the consensus estimate of $2.20.
The results showed higher users and growing engagement, but a 4.5% revenue decrease and a large restructuring charge of $4.2bn, only partially offset by lower depreciation. 2022 marks the first year of declining revenue at Meta.
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The Biden administration takes aim at Apple and Google
February 1, 2023 11:29 AM ESTAccording to AP News on Wednesday, a finding contained in a Commerce Department report released by the administration has resulted in the Biden administration taking aim at Apple (NASDAQ: AAPL) and Alphabet Inc's (NASDAQ: GOOGL) Google.
The publication... More
