Meta's $350 Billion Rally to Collide With Lofty AI Expectations [BNN Bloomberg (Canada)]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: BNN Bloomberg
The Facebook parent has been the best-performer in the sector this year by far amid a surge in profitability. Delivering better revenue growth, it's also cheaper than smaller peers like Snap Inc. and Pinterest Inc. But to keep a rally that's added nearly $350 billion in market value going, Meta must show it can maintain such growth when it reports earnings on Wednesday. Of particular interest to investors: seeing a return on investment from hefty spending on artificial intelligence. “The case is still there with some of the initiatives around AI and everything they're doing to continue to improve targeting and engagement,” Hanna Howard, portfolio manager at Gabelli Funds, said. “There's still room for growth on the top line and to continue to improve in margins. And, where it's trading right now, at these levels it does still look attractive.” In February Meta reported massive growth in both earnings and revenue in the fourth quarter, which also illustrated the impact of cost-c
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META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 5/3/24 - Form 144
- 5/2/24 - Form 4
- 5/2/24 - Form PX14A6G
- META's page on the SEC website