Facebook needs an 'encore' beyond advertising to make Gene Munster believe in the stock [CNBC]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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US:NASDAQ Investor Relations:
investor.fb.com/home/default.aspx
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Source: CNBC
Loup Ventures"I just think that the central question for long-term investors should be, 'What is their encore?' Messenger is probably not that," Munster said on CNBC's"Fast Money."Shares of weresurging in extended tradingThe companyreportedOf 's $17.74 billion in revenue in the quarter, the vast majority — $17.44 billion — came from advertising.The company reported $297 million in "Other" revenue, a year-over-year increase of 80%. Growth in that segment was driven primarily by sales of Oculus virtual reality headsets, according to CFO David Wehner. Sales of the Portal TV video chat system, whichin March was sold outMunster, a former top Wall Street tech analyst turned venture capitalist, said he believes virtual reality and augmented reality is one area in which could become "transformative and advance how humanity interacts.""That to me is the big lever," he said. "That is something that, as they progress, I could get more optimistic about the story."'s market cap is nearing $600
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