Meta (NASDAQ:META) delivered a Q1 result that most managers would frame and hang on the wall. Revenue surged 33% year-over-year, passing $56 billion. Gross margins held at nearly 82%, while average revenue per user climbed 28.2% to hit $15.82.
Everything pointed to the continuation of the monetization streak that turned Meta into one of the best advertising machines in corporate history.
Something went wrong.
Yet, investors were unimpressed. The stock remains down around 6.5% year-to-date.
Why? Because Wall Street stopped caring about the present the moment Mark Zuckerberg opened the capital expenditure firehose.
