Wall Street Loves Zuck: Facebook Stock Soars Despite Earnings Miss as Company Tightens Belt
Facebook (now known as Meta) released its fourth-quarter results on Wednesday, and Wall Street is loving what Mark Zuckerberg has to say despite a significant miss in earnings for the quarter. Although the company suffered its third consecutive quarter of declining revenue and missed its profit target by a considerable margin, Zuckerberg is trumpeting 2023 as the “year of efficiency,” and Facebook shares have jumped almost 20 percent in response.