Meta (META US) - AI Development on Track; Stepped-Up Investment to Drag Margin Expansion Pace
Meta reported 3Q24 results: total revenue grew by 19% YoY to US$40.6bn, in line with Bloomberg consensus estimate; net income was up by 35% YoY to...
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Meta (META US) - 2Q24 Earnings Beat; Intact FY24 Earnings Growth Outlook Despite AI Investment
Overall, we raise FY24-26E total revenue forecast by 1-2% in view of the solid ad demand across verticals. We lift our TP by 5% to US$565.0 on 27x...
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Meta (META US) - Launch of the AI investment cycle
Looking ahead, Meta expects to start a multi-year investment cycle to build full-scale AI capabilities and enhance monetization.
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Internet - 1Q24 recap & our three stock-picking ideas
Year to date, the internet sector has pulled back after rapid rallies buoyed by improved sentiment and short-term fund inflows, in line with our...
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Internet - AI and Margin Expansion Still Key Themes
US internet and software companies delivered mixed performances in 1Q24 in terms of revenue growth: advertising and cloud services revenue growth...
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