“Meta [Facebook] shares pop 15% to 52-week high on guidance, sales increase”
April 27, 2023
“Meta shares gained more than 15% on Thursday, reaching a new 52-week high, as analysts and investors digested positive guidance for the upcoming fiscal quarter and an unexpected sales increase for the first quarter of 2023.
The company reported strong results on Wednesday, posting a beat on the top and bottom lines. Meta reported first-quarter earnings per share of $2.20, beating the consensus estimate of $2.03, and revenue of $28.65 billion versus the $27.65 billion expected by analysts.
Growth in China advertising spend helped lift the company’s first-quarter numbers, with chief financial officer Susan Li telling analysts the bump “was due in part to dropping shipping costs and easing Covid lockdown for those advertisers.”…”
https://www.cnbc.com/2023/04/27/meta-stock-pops-14percent-on-guidance-sales-increase.html
In my opinion Facebook glory days are pretty much over. Good Luck in China where your company can be shutdown at a moments notice.