Meta Platforms Inc’s stricter cost controls this year and a new $40-billion share buyback sent shares soaring on Wednesday
stricter cost controls this year and a new $40-billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the “Year of Efficiency.”
Meta stock was up 18.3% in after-hours trade. Shares of peer Alphabet Inc were up 3.3% and Snap Inc stock rose 1%. “Meta’s better-than-feared results should refute concerns over the state of the digital advertising industry following Snap’s horrible guidance earlier this week,” said Jesse Cohen, senior analyst at Investing.com.
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