The company has also announced plans for a $50 billion stock buyback and its first quarterly dividend, indicating its financial stability and giving investors a reason to stay. Despite making significant cost cuts, Meta continues to invest heavily in artificial intelligence advancements, particularly in generative AI and other technologies that support its social media products and ad targeting. The company reduced its headcount by 22% in 2023, but its AI pipeline remains robust, with more tools expected to launch and scale in 2024.
Key takeaways:
- Meta is on track to become Wall Street's top comeback kid, with its stock rising as much as 21% on Friday, potentially adding roughly $200 billion to its market capitalization.
- The company has impressed shareholders with its recent quarterly earnings report, focusing on reducing costs and increasing profits.
- Meta has announced plans for a $50 billion stock buyback and its first quarterly dividend, signaling to investors that it has money to spare.
- Despite making significant cost cuts, Meta continues to invest heavily in artificial intelligence advancements, particularly in generative AI and technologies to support its social media products and ad targeting.