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Meta recently had their latest earnings call, and as a shareholder, I was very happy with it. It's been a fantastic year for the stock so far. The stock is currently up almost 100% year to date. This is great news after watching the market completely lose its mind on Meta last year. Meta had a couple bad quarters, and I saw countless people saying that the company was over. The company's stock was trading at a single digit times their earnings. Meta's stock crashed so much and so unjustifiably that I wrote this article saying that it made no sense - Why Meta's Stock Price Makes No Sense - FINANCE BY CWT.
I was so convinced that the market had completely lost its mind concerning Meta that I began to buy the stock. At the time, Meta was trading around $90 a share. Considering the fact that Meta is trading at around $240 a share at time of writing, one could say that I have proven to be correct. This stock has proven to be a big winner for me so far this year.
Meta recently had their latest quarterly report where they revealed that over 3 billion people now use one of Meta's apps at least once a month. Over 2 billion people now use at least one of their services everyday. That is just absolutely insane. The growth that Meta's apps have been experiencing is really impressive. As an investor in this company, it is really what I care about the most.
Meta also brought in a good amount of money this past quarter. They brought in $28.65 billion in revenue for the quarter vs the $27.65 billion they were expected to bring in. They also are predicting a very ambitious second quarter. They are expecting to bring in revenue of $29.5 billion - $32 billion. This is largely due to the usage of AI enabling advertisers to accomplish better results on their platforms. When Apple changed their privacy settings, it hurt Meta a lot but AI has helped to undo that.
I'm very happy with this quarter from Meta.
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