META Platforms stock soars after earnings crush expectations, expenses drop | After the Call
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#Meta #Facebook #youtube Meta Platforms’ (META) first quarter results beat Street estimates on both the top and bottom line, with guidance that was rosier than expected. Meta’s “year of efficiency” led to lower expenses and headcount, with the company saying it has “substantially completed” the layoffs announced in 2022. In a call with analysts after the earnings release, CEO Mark Zuckerberg stressed the importance of A.I. to the company, but made it clear the metaverse is still a priority. “We’ve been focusing on both A.I. and the metaverse for years now and we will continue to focus on both,” Zuckerberg said. He also highlighted the performance of Instagram Reels, saying […]