Facebook's ad rebound gives Meta CEO Mark Zuckerberg freedom to pursue far-out bets
Publishing timestamp: 2023-07-27 00:41:55
Summary
Investors are giving Meta CEO Mark Zuckerberg leeway to spend on metaverse, with the company seeing double-digit revenue growth and stock up over 160%. Snap CEO Evan Spiegel, on the other hand, is facing challenges with disappointing forecasts and struggles in ad business. Meta is heavily investing in metaverse, while Snap is focusing on augmented reality. Meta's financials have improved, driven by ad business, while Snap is still facing profitability issues. Both CEOs are optimistic about their respective projects, but analysts have concerns about Snap's long-term success.
Sentiment: MIXED
Tickers: META, GOOGL, AAPL, SNAP,
Keywords: apple inc, snap inc, technology, mobile, mark zuckerberg, meta platforms inc, internet, social media, alphabet inc, business news, breaking news: technology, earnings,
Source: https://www.cnbc.com/2023/07/26/facebook-ad-rebound-gives-meta-ceo-zuckerberg-freedom-to-go-big.html