By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Philippine president’s allies on course for most available Senate seats in election 
    Philippine president’s allies on course for most available Senate seats in election 
    May 12, 2025
    Zelenskyy agrees to meet Putin
    Zelenskyy agrees to meet Putin
    May 12, 2025
    Pope Leo calls for end to polarising ‘war of words’ in address to media | World News
    Pope Leo calls for end to polarising ‘war of words’ in address to media | World News
    May 12, 2025
    Assessing Putin and the ‘Axis of Authoritarians’
    Assessing Putin and the ‘Axis of Authoritarians’
    May 12, 2025
    Kurdish PKK to disband, potentially ending decades of conflict in Turkiye | News
    Kurdish PKK to disband, potentially ending decades of conflict in Turkiye | News
    May 12, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Will Bitcoin hodlers be the reason more countries adopt wealth taxes?
    Will Bitcoin hodlers be the reason more countries adopt wealth taxes?
    May 13, 2025
    Is VET poised for a 300% surge?
    Is VET poised for a 300% surge?
    May 12, 2025
    Cardano bulls set eyes on  as institutional adoption grows amid BTC integration
    Cardano bulls set eyes on $1 as institutional adoption grows amid BTC integration
    May 12, 2025
    Sonic Labs Announces M Token Sale to Galaxy for U.S. Expansion
    Sonic Labs Announces $10M Token Sale to Galaxy for U.S. Expansion
    May 12, 2025
    นักวิเคราะห์ลั่นอย่าพลาด Dogecoin จะเด้งแบบพาราโบลาสัปดาห์หน้า!
    นักวิเคราะห์ลั่นอย่าพลาด Dogecoin จะเด้งแบบพาราโบลาสัปดาห์หน้า!
    May 12, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Meta shares jump more than 16% on solid earnings, stock buyback, and dividend plan
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Meta shares jump more than 16% on solid earnings, stock buyback, and dividend plan
Meta shares jump more than 16% on solid earnings, stock buyback, and dividend plan
Business

Meta shares jump more than 16% on solid earnings, stock buyback, and dividend plan

Published February 2, 2024
Share
4 Min Read
SHARE

Shares of Meta Platforms (META) rocketed higher at the start of trading Friday, climbing more than 16% after the company posted better-than-expected earnings and guidance and announced new shareholder return initiatives.

For the fourth quarter, Meta reported adjusted earnings per share (EPS) of $5.33 on revenue of $40.11 billion. Analysts were anticipating adjusted EPS of $4.94 on revenue of $39.01 billion, according to Bloomberg consensus data. The company reported revenue of $32.2 billion in the same quarter last year.

The company also boosted its stock buyback authorization by $50 billion and initiated a quarterly dividend of $0.50 per share. In the current quarter, Meta said it anticipates revenue of between $34.6 billion-$37 billion, surpassing analysts’ expectations for revenues to tally $33.6 billion.

Meta’s advertising revenue came in at $38.7 billion in the fourth quarter, beating expectations for $37.8 billion. The company also reported 2.11 billion Facebook daily active users. Wall Street was anticipating 2.07 billion.

The company reported ad impressions rose 21% over last year during the period while the average price per ad fell 2%.

Meta’s Reality Labs, however, continues to be a burden on the company. The division, which is tasked with turning Zuckerberg’s vision of the metaverse into a reality, lost another $4.65 billion, up from the $4.3 billion the company lost on the endeavor in the same period last year. Still, the division beat expectations on revenue, topping $1.07 billion versus an anticipated $812 million.

The launch of Apple’s rival Vision Pro headset could create a jump in consumer interest in AR/VR headsets and generate a knock-on effect for Meta’s Quest line of headsets.

But Meta’s Reality Labs efforts have taken a backseat in the minds of investors amid increased investments in generative AI. In January, Zuckerberg announced in an Instagram Reels post that the company’s long-term strategy was to develop general artificial intelligence and make it open source.

There’s no single definition of generative AI, but broadly speaking, it’s a kind of AI that can think and learn like a human. In other words, it’s capable of understanding a multitude of concepts rather than specializing in a certain field.

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

In 2024, Meta expects its expenses to total $94 billion-$99 billion, with the company noting, among other things, that payroll costs will rise this year as it adds more staff in higher-cost, technical roles amid its push into AI features.

Meta also disclosed that in 2023 restructuring charges, including severance and facilities consolidation, totaled $3.45 billion. The company’s headcount as of Dec. 31, 2023, stood at 67,317, down 22% over the prior year.

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

In January, the company’s market capitalization once again eclipsed the $1 trillion mark.

Subscribe to the Yahoo Finance Tech newsletter.

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

Daniel Howley is the tech editor at Yahoo Finance. He’s been covering the tech industry since 2011. You can follow him on Twitter @DanielHowley.

For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here

Read the latest financial and business news from Yahoo Finance

#Meta #shares #jump #solid #earnings #stock #buyback #dividend #plan

- Advertisement -
TAGGED:BuybackdividendearningsjumpMetaplansharesSOLIDStock
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Saudi’s SRJ in exclusive talks to invest about 250 million eur in new cycling league -source Saudi’s SRJ in exclusive talks to invest about 250 million eur in new cycling league -source
Next Article Snap Insight: Former Malaysia PM Najib’s reduced jail term is a bittersweet irony for UMNO Snap Insight: Former Malaysia PM Najib’s reduced jail term is a bittersweet irony for UMNO
- Advertisement -

Latest Post

Will Bitcoin hodlers be the reason more countries adopt wealth taxes?
Will Bitcoin hodlers be the reason more countries adopt wealth taxes?
Cryptocurrency
Philippine president’s allies on course for most available Senate seats in election 
Philippine president’s allies on course for most available Senate seats in election 
World News
Is VET poised for a 300% surge?
Is VET poised for a 300% surge?
Cryptocurrency
Cardano bulls set eyes on  as institutional adoption grows amid BTC integration
Cardano bulls set eyes on $1 as institutional adoption grows amid BTC integration
Cryptocurrency
Zelenskyy agrees to meet Putin
Zelenskyy agrees to meet Putin
World News
Sonic Labs Announces M Token Sale to Galaxy for U.S. Expansion
Sonic Labs Announces $10M Token Sale to Galaxy for U.S. Expansion
Cryptocurrency
- Advertisement -

You Might Also Like

China’s Economic Recovery Faces Fresh Risks From Property Crisis
Business

China’s Economic Recovery Faces Fresh Risks From Property Crisis

August 14, 2023
UK installs record number of heat pumps and solar panels
Business

UK installs record number of heat pumps and solar panels

August 14, 2023
Bankrupt Trucker Yellow Taps Estes Express for .3 Billion Real-Estate Sale
Business

Bankrupt Trucker Yellow Taps Estes Express for $1.3 Billion Real-Estate Sale

August 18, 2023
SME survivor’s guide: Businesses must be prepared for the unexpected
Business

SME survivor’s guide: Businesses must be prepared for the unexpected

August 12, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?