Meta shares soar as company cuts spending, forecasts upbeat first-quarter sales

Its forecast suggests that the advertising market may be recovering as companies increase their marketing budgets, after a long pause due to macroeconomic uncertainties.

Net income for the fourth quarter ended Dec. 31, however, fell to $4.65 billion, or $1.76 per share, compared with $10.29 billion, or $3.67 per share, a year earlier.

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Snap's earnings may hold positive news for Meta, GoogleA rise in a key advertising metric for Snap Inc that reported an otherwise insipid quarter could bode well for Facebook owner Meta Platforms and Alphabet , analysts said on Wednesday.
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