Meta () reported strong earnings after Wednesday’s market close, driving the stock higher after hours. Yahoo Finance’s Daniel Howley joins Brad Smith and Diane King Hall to discuss what Twitter has to say about the tech giant’s earnings release and the future of the company’s AI ambitions at Yahoo Finance. I was. after the call.
According to Howley, Twitter users “showed a lot of enthusiasm for Meta.” He explained that the positive response wasn’t just about revenue, but also about the number of times the company mentioned AI.
Wall Street and Main Street will be heeding AI mentions in upcoming big tech earnings calls.
Watch the entire show.
Key moments of the video:
00:00:08 in Twitter reaction
00:01:25 on analyst response
video transcript
Brad Smith: We had to bring in Dan Howley, technical editor at Yahoo Finance.
– Dan Howley.
Brad Smith: [INAUDIBLE] group.
Dan Howley: yeah i have to tell you We’re looking at the overall reaction on social media to this earnings release. Many people seem to be joking by saying that Mark Zuckerberg couldn’t say the word, or letter, AI any more than he did on that phone. Many people point to the fact that this is a beat, not necessarily a big beat. But there seems to be enthusiasm for Meta and the fact that they were able to do this after consecutive quarters of losses. In other words, a decrease in revenue.
So it’s not that it’s an overwhelming pleasure. It’s more like we’re talking about the Metaverse, where we can’t stop talking about AI. Some said it was more lip service than anything else. But overall, I think we’re going to see a positive reaction to these earnings. And how that translates into the broader tech sector, because it’s through Microsoft. We are going through the alphabet.
– through the alphabet.
Dan Howley: Amazon is coming, Apple is coming. There are many other companies. And guess what they’re probably talking about, AI.
– yes.
Brad Smith: Dan, have you seen any reaction from AI analysts so far?
Dan Howley: So far, actually, many people were praising Mark Zuckerberg, praising the company’s performance, praising the cost-cutting measures they’ve taken, laying them off, and cutting capital. . Spending. But I think the conversation still has to go out and talk about how they spend so much money on the Metaverse. YoY increase in metaverse losses through 2023.
So it’s not like they’re lighting that money. But they’re cutting it elsewhere. More or less, many people seem to think so.
Brad Smith: Yeah, I’m going to chop it up, re-tape it, and use it elsewhere instead of setting it on fire. That’s for sure. Dan, thank you so much for jumping into “After the Call.”
