Meta quotes soared 20%

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Shares of the extremist Meta, recognized in Russia, continued to rise after the worst year in history: after the release of yesterday's report, they rose in price by 20%.

Quarterly revenue of $32.2 billion exceeded the forecast of $31.6 billion. Although the bar was not high: the consensus suggested a drop in sales by 6% due to the fall in the advertising market and increased competition from TikTok. But the company is gradually answering questions that worry investors. Meta is working to become more efficient, profitable and agile in developing new products, said Mark Zuckerberg.

Symbolically, the $28.5 billion revenue forecast for the first quarter of this year is higher than the result for the first quarter of 2021, when revenue was not yet affected by Apple's new privacy policy .

The forecast for spending for the year ($89-95 billion) also contributed to investor optimism, noted Bloomberg . Capital expenditures should be reduced by $4 billion, to $30-33 billion. As the company noted, "almost all" spending will be directed to improving the advertising business, not the metaverse.

As the WSJ, which reviewed the company's internal presentation, wrote last week, Meta has begun to make more use of AI to improve ad performance. This should help adapt to changes in ad targeting adopted by Apple. Meta also relies less and less on advertising formats based on user activity data on external sites.