Jump to content

Facebook owner Meta sees shares up 25% after cost cuts and buyback


Recommended Posts

Meta shares were a whopping 25% amid plans to cut costs and give a $40 billion share buyback. In terms of guidance, Meta forecast Q1 revenue between $26bn and $28.5bn, in line with analysts’ average estimates of $27.1bn.

 

 Jeremy Naylor | Writer, London | Publication date: Thursday 02 February 2023

 

Meta shares surge

Meta Platforms, which owns Facebook, was in absolute lift-off mode last night. It jumped 25% on the IG platform last night in extended trade as a result of news that came out after the bell.

Investors gave little interest to earnings and revenue, where fourth quarter (Q4) net income fell to a $1.76 per share, much lower than the $2.26 expected. A drop was largely due to a $4.2 billion charge related to layoffs and office closures. Revenue reached a whopping $32.17 billion.

Share price chart

Now, let's take a look at what's been happening with shares because there was absolute lift-off last night.

As I said, a straight up candle this is a Marubozu candle. You can see where it started at yesterday's session at the low point. And it ended without any sellers in this market at all, up a total of 25.12%. This is after chief executive Mark Zuckerberg described 2023 as the year of efficiency and updated the market on a series of cost cutting measures like its plans for lower data centre construction expenses this year and pledged stricter cost control.

And we remember the group parted with more than 11,000 jobs back in November, which did cost that money and a one-off. In total Meta Platforms to cut costs in 2023 by $5 billion to a range of between $89 billion to $95 billion.

The group also announced a new $40 billion share buyback program in terms of guidance, better forecast first quarter revenue between $26bn and $28.5bn in line with analysts, average estimates of $27.14 billion. But it was good news for investors last night in Facebook owner Meta.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,594
    • Total Posts
      91,777
    • Total Members
      41,845
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    TWI23
    Joined 20/03/23 09:21
  • Posts

    • DexCom Inc., Elliott Wave Technical Analysis DexCom Inc., (DXCM:NASDAQ): Daily Chart, 20 March 23, DXCM Stock Market Analysis: Looking for an overall long term correction to take place as we could be correcting the entire upmove from 2008.Looking for another leg higher before potential downside resumption. DXCM Elliott Wave Count: Wave (B) of B. DXCM Technical Indicators: Above all averages. DXCM Trading Strategy: We could look for longs with a stop below 104$. TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!   DexCom Inc., DXCM: 4-hour Chart, 20 March 23, DexCom Inc., Elliott Wave Technical Analysis DXCM Stock Market Analysis: Here the three wave move to the upside appears clearer. Looking for sideway continuation as long as we stay above the 200EMA to then resume higher. DXCM Elliott Wave count: Wave (B) of B. DXCM Technical Indicators: In between averages. DXCM Trading Strategy: Looking for sideways continuation in wave (B).Enterwave (B).
    • Commodity Futures Market Technical Analysis Elliott Wave and Trading Strategies Content: US Bond Yields, Dollar DXY, US Gold, Silver, Copper, Lithium, Nickel, Crude Oil, Natural Gas Commodities Market Summary: Commodities are generally moving lower. Trading Strategies: Another buying opportunity may unfold across 2000 for Gold, however we need to wait for the set up, see the video. Video Chapters 00:00  US Gov Bonds 10 Yr Yields 03:58 US Dollar Index DXY  14:04 US Spot Gold 23:47 US Spot Silver 27:52 US Copper / Lithium / Nickel  38:24 Crude Oil  42:19 Natural Gas 44:38 Thanks for watching! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com  Level Up - Test the Trial Service!    
    • Elliott Wave Analysis TradingLounge Daily Chart, 19 March 23, Theta Token/U.S.dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave (I) of Impulse Wave Cancel invalid Level: 0.706 Details: Wave II is likely to end at the level of 0.85 and a five-wave rise from this level will confirm it. Theta Token/U.S.dollar(THETAUSD)Trading Strategy: Theta Token price has recovered well from the 0.850 level but the price is still in a downtrend as it is below the MA200 line, but even then we have completed the second wave retracement and the retracement of the 0.850 level. A five-wave rally confirms this idea, making the price likely to trade above 1.302 and potentially leading to 1.784. Theta Token/U.S.dollar(THETAUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend. The wave oscillators below Zero-Line momentum are bearish. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : TradTradinglounge.com get trial here! Elliott Wave Analysis TradingLounge 4H Chart, 19 March 23, Theta Token/U.S.dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave (I) of Impulse Wave Cancel invalid Level: 0.706 Details: Wave II is likely to end at the level of 0.85 and a five-wave rise from this level will confirm it. Theta Token/U.S.dollar(THETAUSD)Trading Strategy: Theta Token Well recovered from the level of 0.850 and managed to cross the MA200 line, so the trend has a chance to turn bullish again. We also predicted the end of the second wave reversal and the five-wave rise confirming this idea. The price is likely to trade above 1.302 and could lead to 1.784. Theta Token/U.S.dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are bullish.
×
×
  • Create New...