Warner Bros. Discovery stock plummeted 9% after the Q4 earnings report revealed financial progress for the Max streaming service but weakness in advertising sales and other key areas. CEO David Zaslav reassured analysts about the company's long-term outlook, citing a new leadership team and efforts to improve the balance sheet. The stock closed at $8.75, down 18% year to date and 46% over the past 12 months.
Google is continuing its layoffs with "a few hundred" roles being eliminated from its advertising sales team, primarily affecting its Large Customer Sales unit. The company spokesperson confirmed the job cuts, stating that impacted employees will have the opportunity to apply for open roles or elsewhere at Google. This comes after last week's layoffs of about 1,000 employees and previous cuts across various parts of the company, bringing the total number of job cuts above 1,000.
Meta Platforms Inc., the social media giant, enters its second-quarter earnings report with a relatively inexpensive valuation, providing a cushion against any minor misses. Despite a significant recovery from a historic earnings-induced selloff last year, the stock is still cheaper than its mega-cap technology peers and the tech-heavy Nasdaq 100 Index. Analysts expect Meta's revenue to accelerate in every quarter this year, supported by a rebound in demand for advertising sales. The company has also been emulating successful offerings from its peers and investing in artificial intelligence. However, there is still a risk of a stock correction if Meta disappoints on key figures or increases costs and Metaverse investments.
Meta Platforms Inc., the social media giant, enters its second-quarter earnings report with a relatively inexpensive valuation, providing a cushion against any minor misses. Despite a significant recovery from a historic earnings-induced selloff last year, the stock is still cheaper than its mega-cap technology peers and the tech-heavy Nasdaq 100 Index. Analysts expect Meta's revenue to accelerate in every quarter this year, supported by a rebound in demand for advertising sales. The company has also been emulating successful offerings from its peers and investing in artificial intelligence.
