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 —…
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