Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»Meta earnings top estimates as forecast, buyback, and new dividend send shares soaring
Finance

Meta earnings top estimates as forecast, buyback, and new dividend send shares soaring

February 2, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Meta earnings top estimates as forecast, buyback, and new dividend send shares soaring
Share
Facebook Twitter LinkedIn Pinterest Email

Social media large Meta Platforms (META) reported fourth quarter earnings that beat analyst estimates on the highest and backside strains, with the corporate providing a robust outlook for the present quarter and saying new shareholder return initiatives.

For the fourth quarter, Meta reported adjusted earnings per share (EPS) of $5.33 on income of $40.11 billion. Analysts had been anticipating adjusted EPS of $4.94 on income of $39.01 billion, in keeping with Bloomberg consensus information. The corporate reported income of $32.2 billion in the identical quarter final yr.

The corporate additionally boosted its inventory buyback authorization by $50 billion and initiated a quarterly dividend of $0.50 per share.

Within the present quarter, Meta stated it anticipates income of between $34.6 billion-$37 billion, surpassing analysts’ expectations for revenues to tally $33.6 billion.

Shares of Meta soared, gaining as a lot as 17% in premarket buying and selling on Friday.

Meta’s promoting income got here in at $38.7 billion within the fourth quarter, beating expectations for $37.8 billion. The corporate additionally reported 2.11 billion Fb every day lively customers. Wall Road was anticipating 2.07 billion.

The corporate reported advert impressions rose 21% over final yr through the interval whereas the common value per advert fell 2%.

Meta’s Actuality Labs, nevertheless, continues to burden on the corporate. The division, which is tasked with turning Zuckerberg’s imaginative and prescient of the metaverse right into a actuality, misplaced one other $4.65 billion, up from the $4.3 billion the corporate misplaced on the endeavor in the identical interval final yr. Nonetheless, the division beat expectations on income, topping $1.07 billion versus an anticipated $812 million.

The launch of Apple’s rival Imaginative and prescient Professional headset might create a bounce in shopper curiosity in AR/VR headsets and generate a knock-on impact for Meta’s Quest line of headsets.

However Meta’s Actuality Labs efforts have taken a backseat within the minds of buyers amid elevated investments in generative AI. In January, Zuckerberg introduced in an Instagram Reels put up that the corporate’s long-term technique was to develop normal synthetic intelligence and make it open supply.

There is not any single definition of generative AI, however broadly talking, it’s a sort of AI that may suppose and be taught like a human. In different phrases, it is able to understanding a large number of ideas quite than specializing in a sure discipline.

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on September 27, 2023. (Photo by JOSH EDELSON / AFP) (Photo by JOSH EDELSON/AFP via Getty Images)Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on September 27, 2023. (Photo by JOSH EDELSON / AFP) (Photo by JOSH EDELSON/AFP via Getty Images)

Meta founder and CEO Mark Zuckerberg speaks through the Meta Join occasion at Meta headquarters in Menlo Park, California, on September 27, 2023. (Photograph by JOSH EDELSON/AFP through Getty Photographs) (JOSH EDELSON through Getty Photographs)

In 2024, Meta expects its bills to complete $94 billion-$99 billion, with the corporate noting, amongst different issues, that payrolls prices will rise this yr because it provides extra workers in higher-cost, technical roles amid its push into AI options.

Meta additionally disclosed that in 2023 restructuring expenses together with severance and amenities consolidation totaled $3.45 billion. The corporate’s headcount as of Dec. 31, 2023, stood at 67,317 down 22% over the prior yr.

Meta has been on a sizzling streak during the last 12 months, with shares rocketing 121% over that interval and outperforming the likes of Apple (AAPL), Google (GOOG, GOOGL), Microsoft (MSFT), and Amazon (AMZN).

In January, the corporate’s market capitalization as soon as once more eclipsed the $1 trillion mark.

Subscribe to the Yahoo Finance Tech newsletter.Subscribe to the Yahoo Finance Tech newsletter.

Subscribe to the Yahoo Finance Tech publication. (Yahoo Finance)

Daniel Howley is the tech editor at Yahoo Finance. He is been protecting the tech business since 2011. You may comply with him on Twitter @DanielHowley.

For the most recent earnings studies and evaluation, earnings whispers and expectations, and firm earnings information, click on right here

Learn the most recent monetary and enterprise information from Yahoo Finance



Source link

Buyback Dividend Earnings estimates forecast Meta send shares soaring top
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

AbbVie Inc. (ABBV)’s Pipeline Advances with Temab-A and ABBV-706, Shares Flat

May 30, 2025

Top police brass in coastal Karnataka changed in wake of communal murders | Bangalore News

May 30, 2025

What a federal trade court block on Trump tariffs means for consumers

May 30, 2025

Heavy-duty truck parts maker, distributor to close after 46-year run

May 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

AbbVie Inc. (ABBV)’s Pipeline Advances with Temab-A and ABBV-706, Shares Flat

May 30, 2025

Top police brass in coastal Karnataka changed in wake of communal murders | Bangalore News

May 30, 2025

In UP, PM Modi says Indian armed forces forced Pak Army to ‘plead to stop the war’ | India News

May 30, 2025

Chhavi Mittal opens up about her chemical-free skin and face routine, avoiding sunscreen: ‘The only thing I use…’ | Lifestyle News

May 30, 2025
Popular Post

Oil’s Chaotic Selloff Worsens With 7.2% Tumble at Asia Open

Microsoft now has until October to merge with Activision Blizzard

Robert F. Kennedy Jr. Wanted To FAKE Separation From Wife Cheryl Hines

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.