Did investors expect better results? According to the figures, the Facebook parent temporarily lost more than $200 billion in market value.
That’s how it can work: After Tesla shares had risen by twelve percent the day before after really bad quarterly figures, Facebook parent Meta’s shares plunged temporarily by 17 percent on Wednesday evening. At its peak, Meta lost more than $200 billion in market value.
The quarterly figures presented by the technology group were certainly impressive. Sales climbed by 27 percent year-on-year to $36.5 billion, and operating profit increased by 91 percent to $13.8 billion. Net profit increased by 117 percent to $12.4 billion. Every day, 3.24 billion people were on one of the meta platforms (Facebook, Instagram, Whatsapp, etc.), an increase of seven percent compared to the previous year. They clicked on advertising a fifth more often. Meta was able to increase the price for advertising by six percent.
Grow first, then make money
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