Meta Platforms experienced a record-breaking fourth quarter, with revenues rising 20% year-over-year to $48.4 billion and earnings per share jumping over 50% to $8.02. This performance outstripped analysts' estimates and led to a surge in stock prices, marking an eight-session upward trend. CEO Mark Zuckerberg emphasized that 2023 would be pivotal for the company, with clear trajectories for various long-term initiatives expected. The company also maintained its capital expenditure guidance amidst emerging competition from AI innovations.
This is going to be a really big year. I know it always feels like every year is a big year, but more than usual, it feels like the trajectory for most of our long-term initiatives is going to be a lot clearer by the end of this year.
It's probably too early to really have a strong opinion on what this [DeepSeek news] means for the trajectory around infrastructure and capex and things like that.
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