META share price

The shares surged as much as 20% in premarket trading after Chief Executive Officer Mark Zuckerberg pledged Wednesday to make the social media company leaner.

Mark Zuckerberg announced plans to trim layers of middle management and flatten org structure in an earnings call with investors.

Still, the Menlo Park, California-based company said 2023 expenses will be $89 billion to $95 billion — less than Meta previously forecast. In the fourth quarter, Meta recorded restructuring charges of $4.2 billion related to its job cuts. Those efforts are still in their early stages, which means much of the investment is not leading to immediate returns. Meta cut 11,000 jobs, or 13% of the workforce, in November in its first-ever major layoff. Meta is still suffering from a slump in demand for digital ads, which make up the vast majority of its sales, especially from clients in finance and technology. Snap said it expected sales to decline in the current period, with CEO Evan Spiegel remarking that the ad slump appears to be bottoming out.

It's shaping up to be a good day for Meta Platforms. Shares in Facebook's parent company jumped 19% at the open, putting the stock on pace for its best ...

In July 2013, Meta's shares rose 30% in one day.\n\nIn a bad year for markets in 2022, Meta was among the notable losers. The company posted a 55% decline in net profit from the year before. It's shaping up to be a good day for Meta Platforms.\n\nShares in Facebook's parent company jumped 25% in morning trading, putting the stock on pace for its best daily performance in nearly a decade.\n\nAt that pace, there is only one other day where the stock performed better.

Shares of Meta staged a massive rally Thursday after the Mark Zuckerberg-led Facebook parent company beat expectations in its latest quarterly earnings ...

The Meta boss is now the 16th-richest person in the world, rising six spots thanks to the latest stock surge, surpassing notable names including Indian billionaire Gautam Adani, whose fortune has [nosedived considerably](https://www.forbes.com/sites/siladityaray/2023/02/02/adani-drops-to-third-richest-in-asia-after-another-stock-market-rout/?sh=1c2528717d37) in recent days as his empire contends with fraud allegations from short seller Hindenburg Research. “But it appears that Meta has found their own religion on efficiency/profitability and investors now find a leaner, sharper company before them.” The social media giant changed its name from Facebook to Meta in October 2021 to reflect its commitment to the metaverse, Zuckerberg’s vision for an online experience incorporating augmented and virtual reality. [Meta Stock Soars After Beating Revenue Estimate](https://www.forbes.com/sites/nicholasreimann/2023/02/01/meta-stock-soars-after-beating-revenue-estimate/?sh=7cf57e7c5c4f) (Forbes) [Adani Drops To Third Richest In Asia After Another Stock Market Rout](https://www.forbes.com/sites/siladityaray/2023/02/02/adani-drops-to-third-richest-in-asia-after-another-stock-market-rout/?sh=1c2528717d37) (Forbes) Other large technology stocks have also slumped recently, with Meta’s 46% loss since the beginning of 2022 slightly outpacing the declines of Amazon (34%), Alphabet (27%) and Netflix (40%). [beat expectations](https://www.forbes.com/sites/nicholasreimann/2023/02/01/meta-stock-soars-after-beating-revenue-estimate/?sh=7cf57e7c5c4f) in its latest quarterly earnings numbers, outlined cost-cutting measures and announced a $40 billion stock buyback, as Wall Street regains faith in the “House of Zuck.”

Meta Platforms saw a slew of analyst upgrades as shares rose nearly 20% off the backs of a better-than-anticipated earnings report and optimistic ...

"Our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization," he said in a statement Wednesday. At Guggenheim, Michael Morris revised his price target to $210, maintaining a buy rating, citing in part lowered costs and a belief in management messaging on "momentum." In a word, Mahaney wrote, "Yes." He cited "materially reduced expense projections" and a larger-than-anticipated share buyback, upping his price target to $275 and reiterating an outperform rating. "Does META Really Deserve To Be Up 20% In The After-Market?!" [Meta](/quotes/META/) shares jumped 25% Thursday morning, on pace for the best day in nearly a decade, with a slew of [analyst upgrades](https://www.cnbc.com/2023/02/02/analysts-laud-meta-platforms-focus-on-efficiency-say-the-stock-is-transitioning-from-doghouse-to-pedestal.html) coming off the back of a [fourth-quarter revenue beat](https://www.cnbc.com/2023/02/01/facebook-parent-meta-earnings-q4-2022.html) and optimistic prognostications from CEO Mark Zuckerberg.

The broader market index jumped 1%, while the tech-heavy Nasdaq Composite advanced 2.5%. The gains come ahead of a trio of Big Tech results after the bell in ...

[Align Technology](/quotes/ALGN/)— Shares of the orthodontics company gained 14% after the company beat analysts' estimates in its latest quarter. [Meta](https://www.cnbc.com/quotes/META/)— Shares of the Facebook parent surged 19% in early morning trading after the company posted better-than-expected revenue and announced a [$40 billion stock buyback](https://www.cnbc.com/2023/02/01/facebook-parent-meta-announces-40-billion-stock-buyback.html)when it reported its [quarterly results](https://www.cnbc.com/2023/02/01/facebook-parent-meta-earnings-q4-2022.html)Wednesday evening. Robinson](/quotes/CHRW/)— The freight stock dropped 4% after C.H. [Berkshire Hathaway](https://www.cnbc.com/quotes/BRK.A/) Vice Chairman Charlie Munger [urged the U.S. [Honeywell](https://www.cnbc.com/quotes/HON/)— Shares of the industrial company fell more than 5% in premarket trading after Honeywell's revenue for the fourth quarter came in short of expectations. The company also gave a guidance for its first quarter that signaled revenue could rise on the year. It dropped the word "forcefully" from its intentions on further hikes, and it also scaled back its fears over a looming recession. Bank of America [upgraded Meta](https://www.cnbc.com/2023/02/02/bank-of-america-upgrades-meta-platforms-says-new-efficiency-mentality-positions-stock-for-more-than-40percent-upside.html)Thursday, saying the company's new efficiency mentality positions stock for more than 40% upside. [Align Technology](https://www.cnbc.com/quotes/ALGN/)— The orthodontics company saw its shares rise 14% after its quarterly earnings and revenue beat analyst expectations. [Apple](/quotes/AAPL/) shares gained more than 3%. [Merck](/quotes/MRK/) shares after the pharmaceutical firm issued a weak outlook in its latest earnings results, despite beating estimates on the top and bottom lines. Tech stocks have outperformed in 2023, buoyed by recent signals of cooling inflation that investors expect could lead to a pause from the Federal Reserve in its aggressive rate hiking campaign.

Stocks are mostly rising in morning trading, putting them on pace to extend Wednesday's post-Fed bounce. Strong results from Meta Platforms sent its stock ...

20 report, Jefferies LLC analysts made the case that investors should focus less on financial conditions and more on the actual short-term rates set by the Federal Reserve. One of the biggest concerns on Wall Street now is that surging stock and bond prices will help revive borrowing and spending in the economy and thereby undercut progress on inflation.\n\nSome analysts, though, argue that market-driven financial conditions might be less important than sometimes believed.\n\nIn a Jan. Their conclusion was that economic pain hasn’t peaked just because financial conditions are past their tightest point.\n\nAmong their arguments:\n\nHouseholds were able to use government stimulus, rather than borrowed money, to fuel spending in recent years.

Nasdaq 100 (NDX) futures are inching higher today at 1.46%, propelled by better-than-expected revenues posted by Meta Platforms (NASDAQ:META) and an ...

[NASDAQ:AMZN](https://www.tipranks.com/stocks/amzn/forecast)), Alphabet ( [NASDAQ:GOOGL](https://www.tipranks.com/stocks/googl/forecast)), and Apple ( [NASDAQ:AAPL](https://www.tipranks.com/stocks/aapl/forecast)), all of which will report after the market closes today. Also reporting today are bellwethers of the auto and quick service restaurant sectors: Ford Motor Company ( [NYSE:F](https://www.tipranks.com/stocks/f/forecast)) and Starbucks ( [NASDAQ:SBUX](https://www.tipranks.com/stocks/sbux/forecast)). [key phrases from the Fed](https://www.tipranks.com/news/investors-appetite-soars-after-powells-inflation-talk) that were positive and pushed the U.S. However, the Dow Jones Industrial Average ( [DJIA](https://www.tipranks.com/index/dow-jones)) is down 0.3%. In the Indian counterpart, India’s Nifty 50 Index fell drastically in the morning trade following a plunge in Adani Group stocks owing to Hindenburg’s report. Asia-Pacific markets witnessed a volatile day, with a majority of indices ending the day in the green, following the enthusiasm in the U.S. Hong Kong’s Hang Seng index closed down 0.52% after beginning the day on a high note. Also, the company withdrew its follow-on public offering of $2.5 billion. Although Powell has hinted at somewhat easing inflation, the FOMC has pushed for “ongoing increases in the target range” to curb inflation at 2%. As per experts, markets have absorbed and focused only on This was better than the consensus expectations of 195,000. As of 11:21 p.m.

Tech futures leapt as Meta spiked on its results, following the Fed's "gratifying" market rally. Apple, Amazon, Google earnings are next.

[ANET](https://research.investors.com/quote.aspx?symbol=ANET)), Pure Storage ( [PSTG](https://research.investors.com/quote.aspx?symbol=PSTG)) and Global Foundries ( [GFS](https://research.investors.com/quote.aspx?symbol=GFS)) all cleared early entries Wednesday. The Energy Select SPDR ETF ( [XLE](https://research.investors.com/quote.aspx?symbol=XLE)) sank 2% and the Financial Select SPDR ETF ( [XLF](https://research.investors.com/quote.aspx?symbol=XLF)) was flat. Hunt Transport Services ( [JBHT](https://research.investors.com/quote.aspx?symbol=JBHT)) and Performance Food Group ( [PFGC](https://research.investors.com/quote.aspx?symbol=PFGC)) cleared traditional buy points. [Time The Market With IBD's ETF Market Strategy](https://www.investors.com/market-trend/ibds-etf-market-strategy/ibds-etf-market-strategy/) [AAPL](https://research.investors.com/quote.aspx?symbol=AAPL)), Amazon.com ( [AMZN](https://research.investors.com/quote.aspx?symbol=AMZN)) and Google report. The VanEck Vectors Semiconductor ETF ( [SMH](https://research.investors.com/quote.aspx?symbol=SMH)) soared 4.7%. Infrastructure Development ETF ( [PAVE](https://research.investors.com/quote.aspx?symbol=PAVE)) 1.5%. [FFTY](https://research.investors.com/quote.aspx?symbol=FFTY)) rose 1.5%. SPDR S&P Homebuilders ETF ( [XHB](https://research.investors.com/quote.aspx?symbol=XHB)) popped 2%. The iShares Expanded Tech-Software Sector ETF ( [IGV](https://research.investors.com/quote.aspx?symbol=IGV)) leapt 2.85%. [HON](https://research.investors.com/quote.aspx?symbol=HON)) acting as drags. Eli Lilly ( [LLY](https://research.investors.com/quote.aspx?symbol=LLY)) topped profit views but missed on sales, but guided slightly higher on 2023 EPS.

The climb in Meta's share price on Thursday morning boosted Zuckerberg's net worth by roughly $12 billion, to around $69 billion.

On Wednesday, Meta said it will continue to [tighten its belts](https://www.businessinsider.com/mark-zuckerberg-meta-facebook-chopper-in-chief-cost-cutting-expenses-2023-2) in 2023. Zuckerberg saw his net worth grow by roughly $12 billion in a single day as Meta shares hit an intraday trading high of $184.60 on Thursday. [Elon Musk,](https://www.businessinsider.com/the-rise-of-elon-musk-2016-7) [Bernard Arnault,](https://www.businessinsider.com/who-is-bernard-arnault-richest-person-in-europe-lvmh-life-photos-2019-1) [Jeff Bezos,](https://www.businessinsider.com/amazon-ceo-jeff-bezos-richest-man-world-career-life-story-2017-7) and [Changpeng Zhao,](https://www.businessinsider.com/zhao-changpeng-binance-billionaire-crypto-mcdonalds-fast-food-wealth-lifestyle-2022-10) according to the [Bloomberg Billionaires Index.](https://www.bloomberg.com/billionaires/) His net worth was $57.2 billion as of the Wednesday market close, according to the Since most of Zuckerberg's wealth is tied to his Meta shares, his roughly $12 billion single-day increase in net worth brings the value of his fortune to around $69 billion as of Thursday morning. - Mark Zuckerberg's net worth increased by roughly $12 billion in a single day thanks to Thursday gains in Meta shares.

Tech giants Google, Apple and Amazon will report their latest earnings on Thursday as shares in Meta skyrocketed after the Facebook owner posted better ...

Apple, the world's biggest company in terms of market value, is also expected to see a drop in activity, with analysts forecasting quarterly sales of $121.5 billion down from $123.9 billion a year ago. Amazon is expected to report an inflation-fueled increase in sales despite the company announcing a massive round of layoffs to correct for a hiring binge during the pandemic when business growth ramped up. Analysts polled by Factset said sales at the online store would rise to $145.7 billion, up from $137.4 billion a year before. Analysts polled by data company Factset are predicting a drop in quarterly ad sales, which makes up more than 80 percent of the company's revenue, to $60.4 billion, down from $61.2 billion a year before. Apple is the only tech giant that has yet to announce major layoffs in recent weeks and investors will be taking a hard look at how its sales have been affected by China's zero-COVID policy that was only recently lifted. Following in Meta's wake, Google's parent company is expected to also announce a slump in ad sales, which would be only the second quarterly fall since the search engine giant went public in 2004.

The Facebook founder is now the world's 16th richest person, up six spots from Wednesday.

Meta also reported a 4.5% decrease in fourth-quarter revenue compared to the same period in the prior year—but [surpassed analyst forecasts](https://www.forbes.com/sites/nicholasreimann/2023/02/01/meta-stock-soars-after-beating-revenue-estimate/?sh=5c9875ab5c4f) for a 6.5% revenue drop, which likely spurred the stock surge, as did the company's plan to buy back $40 billion worth of its stock. [Wednesday’s earnings call](https://www.forbes.com/sites/nicholasreimann/2023/02/01/meta-stock-soars-after-beating-revenue-estimate/?sh=5c9875ab5c4f) wasn’t much better: Meta’s virtual and augmented reality arm, Reality Labs, posted its biggest quarterly operating loss yet at $4.3 billion. 22 just one day ago](https://www.forbes.com/sites/forbeswealthteam/article/the-top-ten-richest-people-in-the-world/?sh=1a06ec9c54dc) but far below his No. [10 richest people](https://www.forbes.com/sites/rachelsandler/2022/09/27/mark-zuckerberg-is-no-longer-one-of-the-10-richest-americans/?sh=1b8091e2352f) in the world for roughly seven years, but tumbled out of that elite group last fall when Meta’s share price plunged due to declining advertising revenue, competition from TikTok and a general tech slump. 3 spot from September 2021, when he [was worth $136 billion](https://www.forbes.com/sites/kerryadolan/2021/10/05/the-2021-forbes-400-list-of-richest-americans-facts-and-figures/?sh=125e3a3834e9). It's the biggest one-day gain for Zuckerberg since Facebook (now Meta) went public in May 2012.

The owner of Facebook, Instagram and WhatsApp gains $90 billion in its market price and boosts the Nasdaq.

Meta’s stock market rise (of 23.3%) is the largest since the 30% share price gain in a July 2013 session. Investors believe that the cycle of interest rate hikes is coming to an end after the meetings of the It is also tightening its belt on investments, which it puts at 30-33 billion (instead of the previous estimate of 34-37 billion). Because of that and other restructuring costs, the company has written off an extraordinary charge of $4.61 billion in the 2022 accounts, a year in which it had 86,482 employees, after raising its workforce by about 14,000 people, or 20%. [was already on the cards in Wednesday’s after-hours trading](https://english.elpais.com/economy-and-business/2023-02-01/meta-posts-lower-q4-profit-announces-huge-stock-buyback.html), was confirmed with a rise of 23% on Thursday, which is the largest since July 2013 in the stock market history of Facebook’s, Instagram’s and WhatsApp’s parent company. Investors and analysts were on the lookout for new signals from the company.

The company is cutting $5 billion to $6 billion in expenses from its previous forecast for 2023. CEO Mark Zuckerberg reassured investors that the company was ...

With the stock still down by roughly half from its 2021 peak, there's still plenty of room to run if it can execute on Zuckerberg's goals. Adjusting for those, the company reported $3 in earnings per share, which was well ahead of analyst expectations. [META](/quote/nasdaq/meta/) 23.28%) were soaring after the social media giant beat revenue estimates in its fourth-quarter earnings report and slashed expenses, paving the way to a return to profit growth in 2023.