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

[brooklynite]

Source: CNBC

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.

Meta said it would pay investors a quarterly dividend for the first time, announcing a payout of 50 cents a share on March 26. That comes after cash and equivalents swelled to $65.4 billion at the end of 2023, from $40.7 billion a year earlier. Meta also announced a $50 billion share buyback.


Read more: https://www.cnbc.com/2024/02/02/meta-shares-surge-17percent-as-investors-cheer-first-ever-dividend.html

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Mark Zuckerberg made more than $28 billion this morning after Meta stock makes record surge

Mark Zuckerberg's net worth increased by more than $28 billion between your morning coffee and your lunch break.

The Meta founder and CEO -- who is already worth more than $140 billion, according to Bloomberg's billionaire index -- has cleaned up from Meta's share price skyrocketing over the past day, after the company announced its first-ever cash dividend program.

https://www.cnn.com/2024/02/02/business/meta-stock-surge-mark-zuckerberg/index.html

[BigmanPigman]

1. Does this have anything to do with American Edge?

They advertise constantly acting like they are pro-small business when really they are a Fakebook affiliated dark money group. I am not sure if they are connected to stock increases or not.
"American Edge Project"
"The group was formed in December 2019 by Facebook and other technology organizations to promote the interests of the technology interest through advertising and lobbying; according to The Washington Post its purpose is "to convince policymakers that Silicon Valley is essential to the U.S. economy and the future of free speech". It funds advertising campaigns and academic research."