Meta’s Improved Ad Sales Buy Time for Zuckerberg’s Metaverse
- Meta’s current quarter sales projection beats estimates
- Company continues to increase spending on metaverse, AI
Mark Zuckerberg
Photographer: George Frey/BloombergThis article is for subscribers only.
Meta Platforms Inc. said that a recovery in advertising will drive revenue growth at the fastest rate since 2021, helping Chief Executive Officer Mark Zuckerberg rekindle investor support for his longer-term ambitions.
Meta’s revenue could grow as much as 20% in the current quarter, the company said Wednesday. That’s a pace the social media giant hasn’t seen since before the sluggish post-pandemic economy and a privacy rule change from Apple Inc. led to the worst rout in Meta’s digital ad sales in history. Revenue declined for the first time ever last year, prompting investors to lose patience in Zuckerberg’s spending outside of the core business.