Meta Shares Soar Most Since 2013 on Zuckerberg’s Vision
- CEO tells investors he’ll remove layers of middle management
- Social media giant sees AI investments improving user feeds
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Meta Platforms Inc. is headed for its biggest single-day gain in almost a decade after Chief Executive Officer Mark Zuckerberg laid out plans to make the social media giant leaner, more efficient and more decisive.
Zuckerberg, who has spent the past year promising a faraway future in a digital world called the metaverse, was more focused in a call with investors Wednesday on immediate problems, such as sending users the most relevant videos at the right time, and finally making significant revenue from messaging products. He called 2023 the “Year of Efficiency.”