Meta’s (META) supersized layoffs unveiled on Wednesday could serve up a major profit tailwind.
“We believe Meta’s decision to lower the midpoint of FY23 total expense and capex guides by $1.5 billion and $1 billion, respectively, should provide a minimum 8% boost to FY23 EPS [earnings per share],” Jefferies Tech Analyst Brent Thill wrote in a note to clients.
Meta said Wednesday it will slash 13% of its workforce, more than 11,000 employees, as it looks to redirect resources to Mark…
Source link
