Meta's Cost Cuts Are Starting to Pay Off. Time to Buy the Stock?

Coming into Meta Platforms' (NASDAQ: META) fourth-quarter earnings report on Wednesday, investors had low expectations. The stock had plunged following its third-quarter earnings report after the company said its losses in Reality Labs could balloon to $15 billion to $20 billion in 2023. Revenue fell 4% to $32.2 billion, reflecting declines in both its family of apps and Reality Labs segments, but that still beat the analyst consensus at $31.5 billion.