Meta Reports Fourth Quarter and Full Year 2022 Results
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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.
Facebook... More
Wall Street analysts switch stance on Meta Platforms (META) following Q4 earnings
February 2, 2023 8:12 AM ESTFollowing Meta Platforms' (NASDAQ: META) earnings release after the close on Wednesday, Wall Street analysts are sounding a more positive tone on the stock, with price targets being lifted and BofA and Rosenblatt Securities upgrading the company's shares to Buy.
Meta shares are up more than 19% premarket.
BofA upgraded the tech giant's shares to Buy from Neutral, raising the price target to $200 from $160 per share. Analyst Justin Post told... More
Meta Platforms (META) announces $40 billion increase in share repurchase authorization
February 1, 2023 4:08 PM ESTMeta Platforms (NASDAQ: META) announces $40 billion increase in share repurchase authorization
... MoreMeta Platforms (META) Misses Q4 EPS by 50c, Revenue Beats, Offers Guidance
February 1, 2023 4:06 PM ESTMeta Platforms (NASDAQ: META) reported Q4 EPS of $1.76, $0.50 worse than the analyst estimate of $2.26. Revenue for the quarter came in at $32.17 billion versus the consensus estimate of $31.53 billion.
Meta also announced today a $40 billion increase in their share repurchase authorization.
Family daily active people (DAP) DAP was 2.96 billion on average for December 2022, an increase of 5% year-over-year.Family monthly active people (MAP) MAP was 3.74 billion as of December 31, 2022, an increase of 4% year-over-year.Facebook daily active users (DAUs) DAUs were 2.00 billion on average for December 2022, an increase of 4% year-over-year.Facebook monthly... More