META) stock

In this market, the last thing investors have been rewarding this earnings season is a bottom-line miss vs. expectations of any magnitude.

The shares surged as much as 20% in premarket trading after Chief Executive Officer Mark Zuckerberg pledged Wednesday to make the social media company leaner.

It's shaping up to be a good day for Meta Platforms. Shares in Facebook's parent company jumped 19% at the open, putting the stock on pace for its best ...

In July 2013, Meta's shares rose 30% in one day.\n\nIn a bad year for markets in 2022, Meta was among the notable losers. The company posted a 55% decline in net profit from the year before. It's shaping up to be a good day for Meta Platforms.\n\nShares in Facebook's parent company jumped 25% in morning trading, putting the stock on pace for its best daily performance in nearly a decade.\n\nAt that pace, there is only one other day where the stock performed better.

Mark Zuckerberg clearly isn't done cutting costs, and the valuation of his social media empire looks set to double from its November lows.

We were pleased with year-over-year improvement in user engagement as growth in Facebook and family of apps daily users (4% and 5%, respectively) outpaced monthly user growth (2% and 4%). Higher engagement drove impressions sold 23% higher from the prior year, offset by a 22% decline in average ad prices due to the supply increase and weak demand. In addition, the firm’s continuing aggressive share buyback during the quarter and another buyback authorization support our Exemplary capital allocation rating.

Meta stock jumped late Wednesday after reporting fourth-quarter results that fell short on earnings but beat on revenue.

Facebook just reached the milestone of 2 billion daily actives," Meta Chief Executive Mark Zuckerberg said in a written statement with the earnings release. But the company made technology improvements with its ad strategy approach. Meta stock soared as the company announced a $40 billion stock buyback. "Our community continues to grow and I'm pleased with the strong engagement across our apps. The midpoint of $27.25 billion is above estimates of $27.1 billion. [Relative Strength Rating of 72](https://www.investors.com/news/technology/meta-platforms-trying-to-close-in-on-key-technical-measure/) out of 100. An earnings comparison with analyst estimates was not immediately available due to restructuring charges reported by the company. For its first quarter, the company expects revenue in the range of $26 billion to $28.5 billion. [SNAP](https://research.investors.com/quote.aspx?symbol=SNAP)), Etsy ( [ETSY](https://research.investors.com/quote.aspx?symbol=ETSY)) and Pinterest ( [PINS](https://research.investors.com/quote.aspx?symbol=PINS)), Meta is challenged not only by macroeconomic weakness but also by a painful drop in digital advertising, which accounts for almost all of its revenue. Analysts expected revenue of $31.55 billion, according to FactSet. [AAPL](https://research.investors.com/quote.aspx?symbol=AAPL)) changed privacy policies for the iPhone. [cut 11,000 jobs](https://www.investors.com/news/technology/meta-stock-climbs-as-mass-layoffs-revealed/).