Key Facts About Meta Platforms’ Turnaround
Who: Meta Platforms (NASDAQ: META).
What: The company has made a significant financial recovery by shifting focus from metaverse investments to artificial intelligence (AI), leading to a remarkable stock price increase.
When: Meta’s stock price surged from approximately $89 three years ago to around $718 as of July 25, 2023.
Where: The developments took place primarily within Meta’s corporate strategy and investments in AI.
Key Numbers: Meta’s operating expenses spiked in 2021 and 2022 due to metaverse investments, but since 2023, the company has reallocated costs towards AI, contributing to rising cash flow per employee.
Wall Street analysts predict continued revenue growth and profit margin expansion as Meta accelerates its AI initiatives.
