Meta loses $200 billion in value as Zuckerberg focuses earnings call on all the ways company bleeds cash

Key Facts

• The driver for the rally has been a cost-cutting plan that the Meta CEO put in place early last year, when he told investors that 2023 would be the “year of efficiency.”
• Capital expenditures for 2024 are anticipated to be in the $35 billion to $40 billion range, an increase from a prior forecast of $30 billion to $37 billion “as we continue to accelerate our infrastructure investments to support our artificial intelligence (AI) roadmap,” Meta said.
• Zuckerberg said he expects to see a “multiyear investment cycle” before Meta’s AI products will scale into profitable services, but noted that the company has a “strong track record” in that department.
• “Historically, investing to build these new scaled experiences in our apps has been a very good long-term investment for us and for investors who stuck with us and the initial signs are quite positive here too,” Zuckerberg said.

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