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Meta Platforms (META), the social media giant formerly known as Facebook, has seen incredible profit growth in recent years as the company’s high-margin business model continues to spit off excess cash flow the company has used to reinvest in growth. An added focus on efficiency in recent years has driven Meta’s earnings considerably higher. In CEO Mark Zuckerberg’s words, 2023 was the “year of efficiency” – but this mantra has extended through the years since.
With this in mind, it should be no surprise to investors that Wall Street remains bullish on shares with a consensus “Strong Buy” rating.