Meta: 'We expect 2023 capital expenditures to be in the range of $27-29 billion, updated from our prior estimate of $27-30 billion.'
Portfolio Pulse from Benzinga Newsdesk
Meta Platforms Inc. has revised its capital expenditure forecast for 2023, now expecting it to be in the range of $27-29 billion, down from the previous estimate of $27-30 billion.
October 25, 2023 | 8:23 pm
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Meta's revised capital expenditure forecast for 2023 indicates a potential decrease in spending, which could impact the company's future growth and profitability.
A decrease in capital expenditure could mean that Meta is expecting to make fewer investments in 2023, which could potentially slow down its growth. However, it could also mean that the company is expecting to be more efficient with its spending, which could improve profitability. The impact on the stock price will depend on how investors interpret this news.
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