Meta shares jumped nearly 24% after strong results in the fourth quarter
Meta Platforms shares rose during trading today, Thursday, supported by the issuance of strong quarterly business results in the three months ending in last December.
And the American company that owns social networking applications Facebook, Instagram, WhatsApp and Messenger revealed that its quarterly revenue in the fourth quarter decreased by 4% to $ 32.1 billion, but it was higher than analysts’ expectations at $ 31.5 billion.
The number of daily active users on Facebook was about 2 billion, on average, during the month of December.
The company achieved quarterly profits of about $4.6 billion in the fourth quarter, compared to about $10.2 billion a year ago.
Excluding certain items, Mita reported adjusted earnings of $1.76 per share, below expectations of $2.26 per share in the same period.
This, and the company has decided to buy back its shares at a value of $40 billion after buying back its shares at a value of approximately $28 billion in 2022 in general.
In terms of transactions, “Meta” shares jumped at 15:57 GMT, by 23.7%, to $189.3.