Meta Platforms announced plans to buy back $50 billion of shares and pay its first-ever quarterly dividend. These steps should motivate investors, according to Mark Zuckerberg, amid the company's high bets on artificial intelligence and the metaverse. Bloomberg writes about this.
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Report
Meta also reported strong fourth-quarter results, posting sales tripling and earnings up 25%, and projected better-than-expected earnings growth for the current period.
Shares jumped more than 14% in extended trading . Shares were up 12% this year through Thursday's close, after nearly tripling last year.
Forecasts
Meta hopes for $37 billion in revenue in the new quarter ending in March ( Experts expected $33.6).
In the previous quarter, revenue was $40.1 billion, exceeding analysts' average estimate of $39 billion. Net income rose to $14 billion, or $5.33 per share, also better than expected.
Topic: Meta and Amazon shares soar by $272 billion on the day