Wall Street Breakfast: META Rockets
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 2 February 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Thursday, February 2nd, and I'm your host Julie Morgan, our top stories. |
| 0:14.0 | Meta platforms rockets as Q4 results surpass expectations. |
| 0:18.6 | The company also announced a $40 billion buyback. |
| 0:22.4 | House Speaker Kevin McCarthy sits down with President Biden for the first time |
| 0:26.6 | since he won the speakership. Following the meeting, McCarthy said the markets should feel better |
| 0:32.1 | about the debt limit talks and today is |
| 0:35.4 | crypto Thursday. The crypto market is experiencing a broad rally following |
| 0:40.0 | FOMC we're hearing from our new weekly contributor Mike Fay, the author of the |
| 0:44.9 | blockchain reaction about what's moving the crypto market. We begin with |
| 0:50.3 | Meta platforms. Meta platforms is up nearly 19% pre-market. |
| 0:55.4 | Shares soared in extended hours trading after the Tech Giant reported fourth quarter |
| 1:00.5 | results that beat expectations and unveiled a $40 billion share buyback program. Meta platforms earned an adjusted $1.76 per share on $32.17 billion in revenue including 31.44 billion dollars from its |
| 1:17.5 | family of apps which includes Facebook, Instagram and what's app. |
| 1:21.6 | Analysts were expecting Meta to earn $2.23 per share on 31.69 billion in |
| 1:28.1 | revenue. The company's reality lapse unit accounted for 727 million dollars in the quarter also topping it. The artificial intelligence discovery engine and reels is being seen in the strong engagement in its apps. |
| 1:46.4 | Zuckerberg also said that the company's management theme for 2023 is the year of efficiency and the company is focused on becoming a stronger and more |
| 1:56.0 | nimble organization. |
| 1:58.0 | Looking ahead to the first quarter, Meta expects revenue to be between 26 and 28.5 billion dollars. |
| 2:04.8 | Analysts were expecting 27.25 billion. |
| 2:09.1 | House Speaker Kevin McCarthy said the market should feel better based on the meeting he had with |
| 2:14.0 | President Biden on Wednesday. It was the first meeting between the two since |
... |
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