Meta Platforms Shares Surge on Cost Cuts, Stock Buyback
Business Shares of social media companies are on pace for the largest percentage increase in nearly a decade
Social Media Platforms / Tools
FTC Loses Antitrust Challenge to Facebook Parent Meta
Tech Judge denies agency’s request for injunction blocking Meta’s proposed acquisition of virtual-reality startup
Meta, Shell, Apple, Alphabet, Amazon, and More Stock Market Movers
Text size Meta Platforms, the parent company of Facebook, announced a new buyback plan of $40 billion. Justin Sullivan/Getty Images Stock futures were mostly higher Thursday, adding to the previous session’s gains after the Federal Reserve boosted interest rates by a quarter of a percentage point and Fed Chairman Jerome Powell said the central bank’s … Read more
Meta Results Are Mixed But the Stock Is Soaring on Expense Cuts
Text size A Meta employee demonstrates the Meta Quest Pro VR Headset in Las Vegas in January. Robyn Beck/AFP/Getty Images Meta Platforms shares spiked in late trading Wednesday after the company disclosed fourth quarter financial results and announced a new round of cuts to its 2023 spending plan. In another shareholder friendly move, the Facebook … Read more
Opinion: Zuckerberg and Intel are shipping the proceeds from their layoffs straight to Wall Street
For years, Wall Street groused about Silicon Valley’s refusal to pay dividends and buy back stock as tech companies grew into cash-generating machines. That is no longer a problem, even though those tech companies are generating fewer profits than they were in previous years. In fact, some tech companies are basically paying off Wall Street … Read more
Meta stock spikes despite earnings miss, as Facebook hits 2 billion users for the first time and sales guidance quells fears
Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts. Meta Meta, +2.79% said it hauled in $32.17 billion in fourth-quarter revenue, down from $33.67 billion … Read more
Opinion: Snap stock has lost the one thing it had going for it
Snap Inc.’s life as a high-growth young tech stock is over, and its rivals are about to show how much of that change is about Snapchat. “From our recent conversations with our partners, it seems like advertising demand hasn’t really improved, but it hasn’t gotten significantly worse either,” Snap co-founder and Chief Executive Evan Spiegel … Read more
Snap Warns of Sales Drop After Revenue Growth Stalls
Business Earnings Snapchat’s parent company is struggling to revive growth with the digital advertising market in upheaval
Meta Embraces AI as Facebook, Instagram Help Drive a Rebound
Days before Meta Platforms Inc.’s first ever mass layoffs in November, a senior executive shared some good news. The company’s short-form video product, Reels, was getting traction with users, and the threat posed by rival TikTok appeared to be easing. “Facebook engagement is stronger than people expected,” Tom Alison, head of Facebook, wrote in a … Read more
TikTok’s digital ad market share is growing. How will Google and Facebook react?
The clock is ticking on US social media companies’ dominance in digital advertising. TikTok, a favorite among those under 30, is gobbling up market share to the detriment of Alphabet Inc.’s GOOGL, +1.98% GOOG, +2.02% Google, Facebook parent company Meta Platforms Inc. META, +3.65%, and Snap Inc. SNAP, +4.65% — all of whom report quarterly … Read more