Meta* reported better-than-expected earnings in the first quarter of 2024

According to CNBC, Meta* showed growth revenue by 27%, to $36.5 billion (for parent company Facebook**, this is the highest growth rate since 2021). In 2022-2023 The company was drastically cutting costs, losing two thirds of its valueand also disbanded units and made reductions.

As a result, by the end of 2023, the company’s shares almost tripled. It would seem that the compelling figures for the first quarter of 2024 should have supported this trend, but the stocks continue to lose value.

According to analysts, this is due to the statements of businessman Mark Zuckerberg, who continues to insist on unjustified injections into the metaverse, although the corporation receives key income from advertising, online commerce, games, entertainment and media.

Experts also highlight that at the beginning of the year Goal* has benefited significantly from an increase in advertising spending by Chinese discount retailers such as Temu and Shein.

* the organization is recognized as extremist and banned in Russia

** belongs to Meta, banned in the Russian Federation