The company pleased investors by demonstrating aggressive cost cuts.
Meta Platforms (META -4.13%) slashed expenses, reduced capital expenditures, and increased its stock buyback. Investors viewed these moves as prudent, and the stock soared following the announcement.
*Stock prices used were the afternoon prices of Feb. 1, 2023. The video was published on Feb. 3, 2023.
Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through fool.com/parkev, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
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