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Meta Shares Gain After Zuckerberg Predicts 'Really Big Year'
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January 29, 2025
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2:59Now PlayingMeta reports earnings as DeepSeek throws a wrench into American AI and tech giants adjust to the start of the Trump administration. Bloomberg's Mandeep Singh and Caroline Hyde break it all down.
Meta Platforms Inc. is projecting worse-than-expected sales in the current quarter, risking doubt that it can grow its digital advertising business quickly enough to support significant planned investments in artificial intelligence and other futuristic products.
The company expects first-quarter sales of $39.5 billion to $41.8 billion, it said Wednesday. The midpoint missed the $41.7 billion average analyst estimate, according to data compiled by Bloomberg.
Meta Chief Executive Officer Mark Zuckerberg has been using artificial intelligence technology to transform how Meta’s business works, from the way advertising is targeted to the order of content that appears in social networks, squeezing more value out of the social media business and its 3.35 billion daily users. That’s all meant to fund money-losing futuristic initiatives like virtual and augmented reality, as well as an expensive buildout of AI infrastructure.
The social networking behemoth also reported better-than-expected fourth-quarter sales of $48.4 billion, beating the $47 billion that Wall Street expected on average. Advertising from Meta’s social networks, like Instagram and Facebook, continue to drive the vast majority of sales.
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