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Meta Is Spending Like an Oil Company. That Needs to Stop.

Por: MarketWatch Business November 09, 2022

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On Wednesday, Meta cut the top end of its 2023 guidance for capital expenditures from a range of $37 billion to $39 billion as part of its cost-cutting initiatives. The new range is $34 billion to $37 billion. Investors have reacted favorably to what many view as long-overdue expense reductions including job cuts of 11,000. Meta shares are up 6% to $102.33 in Wednesday afternoon trading. There is ample room for reductions: Meta’s (ticker:... + full article



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