Meta shares surged 20% on Friday, after profits tripled in the fourth quarter and the company issued its first-ever dividend.
  • Meta shares jumped on Friday after profit tripled in the fourth quarter and the company issued its first-ever dividend.
    • Revenue rose 25% in the quarter for Meta, marking the fastest rate of growth for any period since mid-2021 as the online ad market rebounded.
    • Investors praised Meta’s decision to issue a dividend, a rare step for a high-growth technology company.

Meta shares closed up more than 20% on Friday after the company reported a tripling in fourth-quarter profit and issued its first-ever dividend.

Revenue rose 25% in the fourth quarter for Meta to $40.1 billion from $32.2 billion a year earlier. That’s the fastest rate of growth for any period since mid-2021, and offers further evidence that the online ad market is continuing to rebound. Meta’s net income more than tripled, to $14 billion from $4.65 billion a year earlier.

The company is forecasting first-quarter sales to be in the range of $34.5 billion to $37 billion. Analysts were expecting revenue of $33.8 billion.

  • Tarquinn2049@lemmy.world
    14·
    9 months ago

    The people still using it, are the people that actually click ads, and buy the resulting products… we all know at least one person like this if not many, either in our family, or at work or whatever.