The core business behind both Alphabet and Meta Platforms is advertising, making them popular choices among hedge fund billionaires for their strong performance in this sector.
Alphabet's advertising revenue rose 13% to $61.7 billion in Q1, with YouTube's ad revenue increasing by 21%. Meta Platforms saw a 27% rise to $35.6 billion in advertising revenue in the same period.
Hedge funds invested in Alphabet and Meta Platforms due to their strong performance during the recovery of the ad market, with both stocks rising around 20% in 2024.
[
add
]
[
|
|
...
]