FB: "Planning to Slow the Pace of Our Investments" in the Metaverse
Meta Platforms Q1 2022 (NASDAQ:FB)
Meta Platforms META 0.00%↑ surprised investors in Q1 but not because the quarter was outstanding. Rather, it wasn’t as bad as some had assumed. In an unusual turn of events, Zuckerberg’s earnings call appearance resulted in whispering sweet nothings into investors’ ears. Put differently, he told investors what they wanted to hear. Acknowledging that 2020/21’s period of over-earning was beginning to “back off”, he remarked that with “current business growth levels, we're now planning to slow the pace of some of our investments”.
However great that might be, the quarter provided no conclusive update on the loss of signal from Apple’s iOS updates, with management offering on-platform messaging/commerce as a potential sidestep. Further, when asked about how Meta plans to handle iOS 16, Wehner retorted by saying “I don't think we have anything at this point to share about [iOS] 16”. The future remains murky for Meta’s Family of Apps segment (FOA). Side note, investors tend to dislike uncertainty.