Snap's earnings may hold positive news for Meta, Google
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Meta downgraded at HSBC following 4Q miss; announces 2023 as 'year of efficiency'
February 3, 2023 8:26 AM ESTHSBC Global Research downgraded Meta Platforms (NASDAQ: META) to a Reduce rating (From Hold), and reiterated a price target of $110.00, following the social media companys 4Q results. Meta reported 4Q EPS of $1.76, missing the consensus estimate of $2.20.
The results showed higher users and growing engagement, but a 4.5% revenue decrease and a large restructuring charge of $4.2bn, only partially offset by lower depreciation. 2022 marks the first year of declining revenue at Meta.
Facebook... More
The Biden administration takes aim at Apple and Google
February 1, 2023 11:29 AM ESTAccording to AP News on Wednesday, a finding contained in a Commerce Department report released by the administration has resulted in the Biden administration taking aim at Apple (NASDAQ: AAPL) and Alphabet Inc's (NASDAQ: GOOGL) Google.
The publication... More
