Meta Platforms Shares Surge 19% Following Strong Q4 Results
Meta Platforms Shares Surge 19% Following Strong Q4 Results

Meta Platforms Shares Surge 19% Following Strong Q4 Results

Feb. 2, 2024, 11:38 a.m., readers: 30

Meta Platforms (NASDAQ:META) experienced a 19% jump in its share price intra-day today following the company's announcement of exceeding quarterly expectations, the initiation of its first-ever dividend, and an expansion of its buyback program. The company reported fourth-quarter earnings per share (EPS) of $5.33, outperforming the analyst prediction of $4.96 by $0.37. Quarter revenue reached $40.11 billion, surpassing the consensus estimate of $39.02 billion. Looking into the first quarter of 2024, Meta Platforms anticipates revenue to be between $34.5 billion and $37 billion, exceeding the Street forecast of $33.83 billion. Furthermore, Meta Platforms announced its first quarterly dividend of $0.50. In addition to the dividend announcement, Meta Platforms increased its buyback plan by an additional $50 billion, signaling strong confidence in the company's financial health and future prospects.


About NASDAQ: META

M eta Platforms, Inc. engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests;

Price: 488.06
Market cap: 1.1 trillion USD
Eps: 14.86
P/e ratio: 32.84
Terminal Research: META
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