Īllie Garfinkle is a Senior Tech Reporter at Yahoo Finance. "Structurally, we like the fact that they are restoring that signal and think that can carry increasing tailwinds as we move through 2023," Erickson said.īrian Sozzi is an editor-at-large and anchor at Yahoo Finance. 11 note, he added that if Meta can assuage fears about ascendant competitor TikTok, it will go a long way toward getting the company to barrel forward in the right direction. Though things don't necessarily look great going into its 2022 earnings, Erickson believes the company is taking the right steps to restore investor confidence. Year to date, shares are up 15% as traders position for a bottom-line boost from cost-cutting efforts. Meta shares have crashed 52% over the past year, but the company appears to be focusing its efforts on efficiency and is expected to say as much in its Feb. Overall, this will add up to a meaningful cultural shift in how we operate." I view layoffs as a last resort, so we decided to rein in other sources of cost before letting teammates go. Zuckerberg tells staff to focus on video products as Meta's stock plunges Facebook lost a record 251 billion of value in a single day. "I know this is tough for everyone, and I’m especially sorry to those impacted. "I want to take accountability for these decisions and for how we got here," Zuckerberg said in a message to employees at the time. To stabilize its bottom line, Meta said in late November it would slash 13% of its workforce, more than 11,000 employees. 30, Meta's sales were relatively unchanged, but operating income tanked by $12 billion year-over-year as the company was caught by surprise by the extent of the sales slowdown. Simultaneously, the company has been navigating its costly efforts to build itself out as the go-to metaverse name, having just changed its name from Facebook in 2021.įor the nine months ending Sept. “Rising interest rates and broad-based inflationary pressures brought investor expectations even further back to Earth.”
“2022 was a relative disaster by almost any measure with the sector's FY performance valuation falling 56% and 53% respectively,” Erickson wrote in a Jan. The overall macroeconomic climate – one that's hammered all of Big Tech – also slammed the Facebook parent company. (Photo by Kevin Dietsch/Getty Images)Īnd it wasn't just the floundering ad market that posed problems for Meta. CEO of Facebook Mark Zuckerberg walks to lunch following a session at the Allen & Company Sun Valley Conference on Jin Sun Valley, Idaho.
0 kommentar(er)
