Due to the adverse effects of high inflation, the conflict between Russia and Ukraine, and monetary tightening by the Federal Reserve, large-scale US technology stocks that have recently announced results have "quieted down" one after another.

After the overnight US stock market, Facebook Inc's parent company, Meta, announced first-quarter results that made investors "mixed", which can be called the "tall man among the short people" among the tech giants whose performance was "thunderous".

MetaThe quarterly report is "mixed".

Meta announced its results for the first quarter of this year on April 27th EST. What worries the market is that Meta's revenue in the first quarter grew 7 per cent year-on-year, below market expectations, while profit margins were 31 per cent, down from 43 per cent in the same period last year.

However, it is gratifying that Facebook Inc's average daily active users in March were nearly 2 billion, an increase of 4% over the same period last year, which was better than market expectations.

In the face of an increasingly fierce battle for users of social networking platforms, restrictions on iPhone's advertising business imposed by Apple Inc's new privacy rules, and increased uncertainty caused by the conflict between Russia and Ukraine, investors are worried about the prospect of Meta continuing to reinvest in meta-universe business.

Meta's shares soared nearly 20 per cent in after-hours trading after the "mixed" results. As of press time, Meta was up more than 17% before trading. But it's worth noting that Meta's share price has plummeted 48% so far this year, nearly halving.

Tech giants have "stalled" one after another.

The recent performance of large-scale US technology stocks has been poor. Wall Street news mentioned earlier in the article.In addition to Meta, Netflix Inc is also one of the top five FAANG technology stocks whose share prices have collapsed.

After trading on April 19, US Eastern time, streaming media giant Netflix Inc made a "thunderstorm" in the first quarter. According to the financial report, Netflix Inc's global net paying users decreased by about 200000 in the first quarter, the first time in a decade, and more customers are expected to be lost in the coming months.

Netflix Inc's share price collapsed immediately after the release of the results. In the following April 21, Netflix Inc plunged 39% at one point, the biggest intraday drop since 2004.

In addition, after trading on April 26, US Eastern time, Alphabet Inc-CL C's parent company, Alphabet, also announced its results for the first quarter of this year. Alphabet's revenue growth in the first quarter was the slowest year-on-year in two years, net profit fell more than 8 per cent year-on-year, and advertising revenue growth slowed significantly from the previous quarter, well below analysts' expectations, according to the results.

It is worth mentioning that Alphabet's share price has fallen 21% so far this year.

Facebook IncWhere did you win?

Although Meta's results in the first quarter of this year were "mixed", the decline in earnings was smaller than the market expected, and the revenue of the re-invested meta-universe business was also higher than the market expected. More importantly, the number of daily active users, an indicator of advertisers' activity on the Facebook Inc platform, regained its growth momentum after an unexpected month-on-month decline in the fourth quarter of last year.

As the world's largest social application, Facebook Inc's growth in the number of active users is gradually slowing down. In addition, the fierce competition for users of TikTok, the short video platform, and the announcement of Facebook Inc's withdrawal from the Russian market have greatly affected the growth of its active users.

However, to the surprise of investors, the growth rate of Facebook Inc's active users in the first quarter of this year exceeded the average expectations of analysts. According to the financial report, Facebook Inc's average daily active users were 1.96 billion in March, up 4% from the same period last year, and 2.936 billion monthly active users in the first quarter, up 3% from the same period last year.

It is worth noting, however, that as the company's revenue pillar, Meta's advertising business is not easy. Meta's advertising revenue in the first quarter was $26.998 billion, up 6.1% from a year earlier and below market expectations.

The reason why Meta's advertising revenue fell short of expectations was mainly due to the adjustment of Apple Inc's ios privacy policy, high inflation and supply chain bottlenecks affecting advertisers' budgets, as well as uncertain factors such as the conflict between Russia and Ukraine affecting European companies' advertising.