Meta took a $4.2B restructuring charge in Q4, which included costs for early office space terminations, data center redesigns, and severance for laid-off staff
investors are extremely happy about Facebook taking a machete to their capital expenditures — terminating building leases, downsizing data centers — and the stock jumped like 18 percent in after-hours (they still hate the metaverse spending tho) https://t.co/IvMeCvU5c6
Facebook parent, Meta, announces plans to buy back $40 billion in stock. Periodic reminder: stock buybacks are when a company takes a huge pool of money it could have used to increase salaries, improve benefits, or invest in growth, and instead just gives it to investors. https:/…
$META eps are 3/shr vs. 2.22 consensus when backing out the restructuring charges- so this seems to be a homerun all around- rev and eps beat, decent guide and lower exps and capex into '23 with a very reasonable valuation- stock now up over 100% from the Cramer tears low
they beat the FTC this morning and they appeased wall street this afternoon in short, a banner day if you love Meta AND capitalism (and the opposite if you do not) https://www.nytimes.com/...