Meta shares drop 11% in 2023
Meta's stock has decreased by 11% since the beginning of the year, due to weaker revenue expectations and a decline in free cash flow resulting from intensive investments in artificial intelligence. The company reported earnings per share of $6.18 and revenues of $60.80 billion, slightly exceeding market expectations. However, cash flows dropped significantly to $784 million compared to $8.55 billion a year earlier, with forecasts for the current quarter's revenue ranging between $61 billion and $64 billion, despite analysts' expectations of $63.15 billion. The company continues to invest in artificial intelligence through launching advanced models and making substantial investments in startup companies, with a focus on expanding computing resources, growing core businesses, and enhancing customer service.
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