Meta shares surge 20% on soaring profit, better-than-expected guidance and first-ever dividend
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cnbc.com
- 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.
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The vodka?
The whale?
The motherfuckers monetized cetaceans!
The caviar?
https://techcrunch.com/2011/03/01/facebook-beluga/