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.

    • WarmSoda@lemm.ee
      9·
      10 months ago

      There’s entire countries that use Facebook to connect to the Internet. It’s basically thier AOL.

      • MudMan@kbin.social
        41·
        10 months ago

        I keep a FB account I no longer use because in some professional circles in some countries the expectation is you’ll get contact details by sharing that.

        And I keep a Whatsapp account because where I am that’s the default messaging service for everything and everybody on all phone platforms. Businesses and institutions will reach out to you over it. School will send homework to kids over it, doctors will set appointments over it, nobody will question whether you have it, just look up your phone number on it.

        Meta won the social media wars ages ago, it’s just that some, especially in the US, didn’t notice.