This was supported by a 9% y-o-y increase in user growth, 6% y-o-yincrease in prices of digital ads, and 13% y-o-y increase in ad impressions.
PhillipCapital’s Jonathan Woo has maintained a “buy” call on Meta Platforms (formerly known as Facebook) amid a weaker 1QFY2022, but has lowered his target price to US$312 ($419.62) from US$424.
In a Feb 7 report, Woo notes that Meta’s 4QFY2021 results were “in line with expectations”, with the company reporting 20% y-o-y revenue growth for 4QFY2021, and 37% YoY revenue growth for FY21.
