Meta shares surge 20% on soaring profit, better-than-expected guidance and first-ever dividend

Stamau123@lemmy.world to News@lemmy.world – 81 points – Meta shares surge 20% on soaring profit, better-than-expected guidance and first-ever dividend
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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Who tf is still using Facebook, and how tf is it making so much money still?

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.

Somebody can correct me, but if I remember correctly it’s widely used in countries such as India and Brazil.

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

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.

Wow. Never thought you could create a worse space than AoL.

At least AOL was nice enough to say hello and goodbye to you when you used it.

And they sent free CDs, if you happened to want one for some reason,

Instagram, WhatsApp, occulus.... I haven't used Facebook in years, I use Meta daily though.

Facebook Marketplace is one of the least-shit ways to sell things nowadays. I use it just for that.

"least shit"

I hate that people are using it in Canada when Kijiji exists and the experience is so much better.

2023 Q3 they had 3 billion monthly active users. Instagram had 2 billion monthly active users.

Showing ads to these users is how they make so much money.

Everyone. I'm not sure why this is still shocking. Seriously, 2B per month. It's not going anywhere any time soon.

The money comes from Vanguard, BlackRock, and Fidelity Investments.

TL;DR: Facebook is owned and funded by a conglomerate of shadow banking systems that allow the ultra-rich to influence global social strata.

Those are just the biggest available ETFs and Fonds. Everyone that owns a couple of MSCI or FTSE fonds technically owns a meta stock but with one of those 3 acting as shareholder

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

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

Sounds like the 1% to me.

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You know when you just come out and say it like that, you sound kinda…. I dunno. Right.

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It’s an amazing what an androids non-apology before Congress will do