Meta Platforms, Inc. - META STOCK NEWS

On April 26, 2023, Meta Platforms, Inc. (NASDAQ: META) reported its financial results for the first quarter ending March 31, 2023. The company recorded a 3% year-over-year revenue increase to $28.65 billion, aided by a 26% rise in ad impressions across its apps, although the average price per ad fell by 17%. Costs and expenses surged by 10% year-over-year to $21.42 billion, partly due to restructuring efforts, leading to a 15% drop in operating income to $7.23 billion and a 24% decline in net income to $5.71 billion. Additionally, Meta plans to reduce its workforce by 10,000 employees, expecting related costs near $1 billion. The company anticipates revenue for Q2 2023 will range from $29.5 to $32 billion.

Meta recently announced advancements in forest mapping technology to improve carbon dioxide absorption assessments and enhance its sustainability efforts. By leveraging AI, specifically the DINOv2 model, Meta aims to provide fine-grained, tree-by-tree mapping of forests on a continental scale, starting with regions like California and São Paulo. These efforts are part of Meta's broader commitment to achieve net zero emissions across its value chain by 2030. The company emphasizes the importance of forests in achieving global carbon removal targets as outlined by the IPCC. Improved data transparency will facilitate access for small landowners to carbon markets, while better monitoring solutions will enhance the credibility of forest-based carbon offsets. This innovation could significantly impact Meta's sustainability strategy and bolster its role in climate change mitigation.

Meta is addressing the significant issue of construction waste, which totals 660 million tons annually in the U.S.

In a collaboration with Mycocycle, the company is piloting an innovative project at its Gallatin, TN data center to recycle drywall waste by using mushrooms. This initiative turns drywall debris into a sustainable product that can be reused in construction.

Meta aims to leverage its purchasing power to promote sustainable building materials with leading manufacturers. This project aligns with Meta's commitment to achieving net zero emissions across its value chain by 2030.

Meta is committed to sustainability in its data centers, which are significant contributors to its energy use and emissions. The company prioritizes energy efficiency by implementing innovative cooling systems and hardware designs. Meta operates on 100% renewable energy across its facilities in six countries and over 20 U.S. states, contributing more than 9,000 megawatts of clean energy to the grid. It also aims to be water positive by 2030, currently saving nearly 130 million gallons annually through various water-saving methods. Furthermore, Meta focuses on waste reduction, recycling, and achieving green certifications, with 33 facilities certified LEED Gold. These sustainable practices are essential for minimizing environmental impact while ensuring reliable data services.

Meta has partnered with The World Around to launch the inaugural Young Climate Prize, focusing on empowering Gen Z and Generation Alpha in climate activism. The program features 25 finalists aged 13 to 25, each receiving mentorship from industry leaders. Three winners will be announced on Earth Day (April 22, 2023), at the Solomon R. Guggenheim Museum in New York City. Categories include Young Climate Voice, Young Climate Designer, and Young Climate Visionary. The projects span five themes: Words Matter, Creating Connections, Innovators & Investors, All About Waste, and Radical Reuse. This initiative highlights youth-driven solutions to combat climate change, emphasizing the importance of community and creativity.

Roundhill Investments has launched the Roundhill BIG Tech ETF (BIGT), providing focused exposure to the 'FAAMG' stocks: Facebook, Amazon, Apple, Microsoft, and Google. The ETF, trading on NASDAQ from April 11, 2023, offers investors a cost-efficient way to invest in these tech giants with an expense ratio of just 0.29%. The ETF employs an equal weighting strategy and plans quarterly rebalancing. Chief Strategy Officer Dave Mazza highlighted that BIGT addresses market uncertainty by offering a direct investment vehicle for these high-quality companies, which are recognized as leaders in technology and substantial contributors to revenue and market capitalization. With the launch of BIGT, Roundhill aims to enhance its suite of innovative financial products tailored for the next generation of investors.

Meta Platforms, Inc. (NASDAQ: META) will release its first quarter 2023 financial results on April 26, 2023, after market close. A conference call is scheduled for 2 p.m. PT / 5 p.m. ET on the same day to discuss the results, accessible via the Meta Investor Relations website. Following the call, a replay will be available on the same site, along with transcripts of discussions with equity research analysts. This event marks a key opportunity for investors to gain insights into Meta's financial performance and future outlook.