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Meta’s Rally Doesn’t Need a Hand From TikTok Ban

8Mar

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Technology

Meta’s Rally Doesn’t Need a Hand From TikTok Ban

[ad_1] A good year for Meta Platforms Inc. investors has the potential to get better still — even without the boost that a ban on Chinese rival TikTok would undoubtedly bring. The Facebook-owner's stock has surged 54% this year, the fifth-best performer among components of the Nasdaq 100 Index, as the company pledges to be a more efficient business. Those gains look likely to extend on Tuesday after Bloomberg reported that Meta plans to cut thousands more jobs. The shift in strategy puts the firm more in tune with a market where investors are favoring cost controls and earnings over growth. And with the stock still cheap relative to its own history, analysts are turning increasingly bullish. Such optimism would only increase should US lawmakers succeed in a push to outlaw Chinese ...

Zuckerberg’s New Focus Pulls Meta Back From The Brink

[ad_1] Meta Platforms Inc. may have got caught in a downward spiral over the past year, but Mark Zuckerberg seems to be putting it back onto a more fruitful direction, at least for now. Meta's decline in ad revenue for the third straight quarter wasn't as big as expected; there was a $40 billion buyback for shareholders; and daily active users — Meta's “North Star” for years — blew past the psychological 2 billion barrier, according to fourth-quarter earnings it announced on Wednesday night. More important, Chief Executive Officer Mark Zuckerberg replaced much of his usual talk about the still-to-be-realized metaverse with pledges about a new era of “efficiency” for Meta, on the heels of slashing thousands of jobs, and a refocus on artificial intelligence, echoing where other tech ri...

Meta Shares Soar as Zuckerberg Ushers in ‘Year of Efficiency’

[ad_1] Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg struck a new tone with investors Wednesday: The social media giant will be leaner, more efficient and more decisive, with a big assist from artificial intelligence.The company's shares gained more than 20% in late trading on fourth-quarter revenue that beat expectations. Zuckerberg, who has spent the past year promising a faraway future in a digital world called the metaverse, on Wednesday was more focused on immediate problems, such as sending users the most relevant videos at the right time, and finally making significant revenue from messaging products. He called 2023 the “Year of Efficiency.” “We're working on flattening our org structure and removing some layers of middle management to make decisions faster, as wel...