Meta, the company that owned Facebook and Instagram, released its first quarterly report for 2023, revealing a solid quarter for the company.
The company reported total revenue of $18 billion, up 10% from the same period a year earlier. This increase in revenue was primarily driven by user growth and increased advertising on its services.
In particular, monthly active users on Facebook and Instagram grew by 5% and 7% respectively compared to the same period of the previous year. The company also reported a 15% increase in ad spend on its services, which contributed significantly to the increase in revenue.
In addition, Meta has announced important future investments in virtual reality and augmented reality, a sector in which it is already the market leader with the Oculus department.
However, the company also faced some challenges in the quarter. In particular, Meta has experienced a slight slowdown in user growth in some regions, such as the US and Europe, which could pose a problem for the company’s future growth.
Overall, Meta’s 2023 first quarter was positive, with solid revenue growth and a promising long-term investment strategy. However, the company will need to continue to closely monitor user growth and ad spending to maintain its position as a leader in social media and technology.
From a technical point of view, Meta is about to close the important gap down at the beginning of 2022 which had started a bear market that lasted all year, a period in which I averaged an average price of 187.85.
Currently the gain of the position is about 50%.
Target gap closure at $290-291, where I will take home part of the profit.
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