Meta’s Earning Call Today Was Amazing!

Last year, Meta’s stock absolutely crashed. The stock was doing terribly. I felt like Meta’s price drop was a HUGE overreaction, so I invested in the company. The stock then fell more, so I bought more. This caused Meta to become a really large part of my investment portfolio. That, of course, ended up working out for me very well considering that I am currently up over 100% on my shares.

With the stock becoming so profitable for me, I considered selling my shares and realizing my gains, but I didn’t. I just love the overall business of Meta too much, and I like owning part of it. Meta had an earnings call today that I was really excited for, and I am happy to say that they absolutely crushed it. Here’s some numbers.

Meta brought in $34.15 billion in revenue compared to $33.51 billion expected.

Meta also earned $4.39 a share compared to $3.60 a share expected.

Meta also revealed that Facebook now has 2.09 billion daily active users compared to 2.07 billion expected daily active users.

One thing people will point out is that Meta is still losing a ton of money on vr/ar projects through its reality labs division. This was actually a big reason for the stock falling so much last year. While this is true, it’s a very small part of the actual business. The core part of the business (its family of apps) is still growing and producing more revenue. The business itself is doing well.

I was also pleased to see an update on its twitter like social media app Threads which launched about three months ago. I’ve seen many people make the claim that threads is not doing well. It exploded in growth early on and did experience a pullback after which, in my opinion, got way overblown by the media. Anything that grows as fast as threads did is obviously going to experience a pullback. Meta announced that threads currently has just under 100 million monthly active users. That is absolutely incredible for an app that is 3 months old.

Overall, I am very happy with this earnings call as a shareholder.

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