Meta Platforms Inc. has experienced a historic financial resurgence, with its stock value surging after a series of strategic business decisions. The company's market capitalization increased by $205.3 billion on a single Friday, marking the largest one-day addition in history. Following a blowout earnings report, Meta's market cap saw an increase of $197 billion. This growth in value is attributed to Meta's announcement of a 25% revenue increase year over year, alongside a substantial 22% reduction in headcount, which resulted in a net income of $14 billion, reflecting a 203% increase from the previous year. CEO Mark Zuckerberg has personally gained over $14 billion as Meta shares soared this year, even before the commencement of dividend payouts. Additionally, Meta's valuation has now surpassed Tesla's, with the former being worth twice as much as the latter. According to CommSec’s Tom Piotrowski, Meta's stock jumped 20% after the 'better than expected' earnings. The company's shift away from heavy investments in the metaverse towards cost reduction and a $40 billion stock buyback plan has been a key factor in this resurgence.
🚨🇺🇸META’S HISTORIC REBOUND AFTER DUMPING METAVERSE Meta had the largest gains in stock market history with a $197 billion surge. The shift from heavy spending on the metaverse to a focus on cost reduction and a $40 billion stock buyback plan catalyzed this resurgence.… https://t.co/U2DhGO5dhW https://t.co/OUyC9kHlav
$TSLA is by and far the only the Magnificent 7 not worth at least a trillion in market cap, by a mile. Remember, Elon said Tesla will be the most valuable company in the world one day… Well they have to first start by catching the next closest Mag7 in $META, which is DOUBLE…
Facebook parent Meta’s stock jumped 20 per cent after “better than expected” earnings, according to CommSec’s Tom Piotrowski. https://t.co/KurAJVlT5B
This week we witnessed one of the most amazing business stories in years. @Meta announced a 22% reduction in headcount coupled with a 25% increase in revenue, resulting in a net income of $14 Billion, up 203% from the year before. This means Meta, a $160+ billion company, is…
Meta's market cap increased by $197 billion on Friday after its blowout earnings report, the largest single-day gain for any company in history. $META https://t.co/KFOVREh8xQ
This week @Meta announced revenue growth of 25% year over year and a headcount cut of 22%, with net income soaring to $14 billion, almost a 35% net profit. That spectacular outcome is a result of focus and a rigorous process of reducing headcount. But the big story is not this… https://t.co/W4I8n6yQJY
$META $TSLA | Musk Vs. Zuckerberg: Though Billionaires Didn't Fight In Cage, Rivalry Heats Up As Meta Is Now Worth Twice As Much As Tesla https://t.co/9EESZHrysK
$META added $205.3B of market cap on Friday, the largest one-day addition in history https://t.co/bJxnVydKbL
Zuckerberg has made $14 billion–plus as Meta shares have soared this year. And that’s before the dividend payouts begin. https://t.co/SZZQXsIH4v