Investing Club: Meta's Q4 beat and commitment to cost cuts is exactly what we've been waiting for
Meta Platforms reported a fourth-quarter earnings beat Wednesday, while CEO Mark Zuckerberg labeled 2023 the "year of efficiency" in an effort reassure nervous investors like us that the technology giant is serious about controlling costs following a period of severe overspending. Revenue fell 4% year-over-year, to $32.165 billion, beating analysts' expectations for $31.53 billion, according to estimates compiled by Refinitiv. Earnings-per-share fell 52% on an annual basis, to $1.
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., speaks during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. reported a fourth-quarter earnings beat Wednesday, while CEO Mark Zuckerberg labeled 2023 the "year of efficiency" in an effort reassure nervous investors like us that the technology giant is serious about controlling costs following a period of severe overspending.
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