META rose 37.3% in the first quarter due to strong fourth quarter results
Aron Fans, an investment management company, announced an investor letter for the first quarter of 2024 for the “Baron Fifth Avenue Growth Fund.” This fund increased 12.6% (institutional investor stock) in the first quarter, while the Russell 1000 Growth Index increased 11.4% and the S&P 500 Index increased 10.6%. Despite rising interest rates, the US economy continues to beat expectations.
The Baron Fifth Avenue Growth Fund wrote an investor letter for the first quarter of 2024, $Meta Platforms(META.US$ Stocks such as were taken up. $Meta Platforms(META.US$ is a technology company that develops products that connect people. What is the return for 1 month10.54%So, the company's stock has been in the past 52 weeks82.50% increaseI did it.
On 2024/5/24, Meta's stock price closed at 430.16 dollars per share, and the total market value was 3.197 trillion dollars.
The world's largest social network $Meta Platforms(META.US$ As for the stock price, the fourth quarter sales grew steadily, with a 25% increase from the previous year, and the operating profit margin was 41%, which more than doubled from the previous year, so it rose 37.3% in the quarter. Since Meta's number of employees dropped 22% year over year, they benefited from 12 years of efficiency improvements. Meta also expected revenue growth of approximately 29% year over year in the first quarter, which was above expectations. Advertisers' satisfaction and adoption with Meta continues to be strong, core app engagement is healthy, daily video viewing time increased 25% year over year, total number of monthly active users in the fourth quarter reached 3.98 billion, up 6% year over year, and monetization of Instagram Reels and click-to-message ads continues to improve.
Meta Also, the company continues to rapidly innovate in the field of GenAI, and its leading research institutes have released widely adopted open source models (such as Llama 2), and internal algorithms and core applications have been enhanced with AI. We continue to be a shareholder, and we believe Meta can maintain its top market share in digital advertising due to the strong network effects realized by a large base of users and advertisers.
Furthermore, with the company's innovative culture, large installed base, and cutting-edge GenAI research, AI and GenAI can be incorporated into the company's products, and we believe that further opportunities for monetization will arise in the future. For example, AI agents help scale business messaging, handle large customer requests on behalf of business customers, and make large-scale business messaging more feasible.
META's revenue for the past 12 months was $142.71 billion, with a quarterly revenue growth rate of 27.30% and a revenue growth rate of 116.70% compared to the same period last year.
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