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.

  • Deceptichum@kbin.social
    43·
    10 months ago

    “Shadow Banking” and “ultra rich influence” sounds an awful lot like dog whistling to me.

    Sounds like the 1% to me.

    • cosmic_slate@dmv.socialEnglish
      11·
      10 months ago

      Well…more like the funds that back everyone’s 401ks/IRAs/etc

      Edit: responded to wrong level of comment

      • Deceptichum@kbin.social
        21·
        10 months ago

        I’m talking about the terms “Shadow Banking”/“ultra rich influence” and the insinuation that criticism of rich people is actually coded anti-Semitism, not the etfs themselves.