Tag Archives: Meta

Meta Platforms’ Mark Zuckerberg isn’t the only CEO spending more time overseeing the development of costly consumer devices. At Google, CEO Sundar Pichai directly manages two executives in charge of hardware businesses—Rick Osterloh, who oversees Pixel phones, Fitbit fitness trackers and Nest smart home devices; and Clay Bavor, who is working on experimental projects such as augmented reality headsets. Google is prioritizing the development of its own devices as Apple increases… Source link

… Source link

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Parkev Tatevosian, CFA has positions in Alphabet (C shares). The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), and Meta Platforms, Inc. The Motley Fool has a disclosure… Source link

Meta’s (META) recent mass layoff marks a turning point for a company whose business model once seemed untouchable despite years of controversies over privacy and Russian election interference. While some might blame Meta’s fall on CEO Mark Zuckerberg’s obsession with the immersive online world known as the metaverse, that’s only one factor that helped send its stock price plummeting 70% in the last year. Other major blows include the rise of short-form video platform TikTok, Apple… Source link

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

Meta (META) shares plunged more than 22% on Thursday morning after the Facebook parent reported the prior day that its revenue declined last quarter and missed analysts’ expectations. The bad news comes as the social media giant pushes harder into the metaverse, the 3-D virtual world that inspired the company’s leadership to change its name. Not everyone’s sold on the change, and the numbers coming out of Meta and the broader macroeconomic environment certainly don’t help matters. “There is… Source link

Investors in Meta stock wanted to hear one thing on the embattled company’s earnings call late Wednesday: an acknowledgement by founder Mark Zuckerberg that leaner spending times were ahead as margins have been squeezed by an ill-timed metaverse build out and a slowing ad market. They heard the opposite. The social media platform outlined about 13% year-over-year expense growth for fiscal year 2023, well above the Street’s forecast of 7%. Meta will clearly continue to spend aggressively —… Source link

Meta (META) is gearing up to report its third-quarter earnings after the closing bell on Wednesday. Here’s what Wall Street’s expecting from Facebook’s parent company, as compiled by Bloomberg: Revenue: $27.4 billion expected Earnings Per Share (EPS): $1.88 expected Facebook Daily Active Users (DAUs): 1.86 billion expected The digital advertising slowdown had been top-of-mind for Meta and Big Tech overall heading into this week’s earnings. On Tuesday, Google parent Alphabet (GOOG, GOOGL) reported… Source link

Facebook parent company Meta Platforms (META) stock is getting cooked as the technology company spends money manufacturing virtual reality hardware, generating awareness, and finding friends for a future in the metaverse. The advertising budgets of its customers are tightening as companies restructure costs amid macroeconomic challenges — which even leads an optimistic analyst to say the third quarter for Meta Platforms is ‘make or break’. “I think the stock is back to questions around,… Source link

While the broader virtual reality industry earnestly waits for Meta’s next announcements around new VR products at its Connect event next week, Google’s venture arm GV is placing an interesting bet in a startup building up an ecosystem around some of Meta’s hardware. GV has led a $12 million Series A investment in SideQuest, the makers of an alternative app store for the Meta Quest VR headset, which allows developers to ship and market experimental games that may not initially… Source link