1. Meta Earnings: Facebook Parent Initiates Dividend as Growth Continues; Stock Price Jumps 17%.
- Author
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Rodriguez, Salvador
- Subjects
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STOCK prices , *DIVIDENDS , *SOCIAL media , *PARENTS , *BUSINESS revenue - Abstract
Meta Platforms, the parent company of Facebook, has experienced its best quarterly sales growth in over two years and has initiated its first-ever dividend. The strong results are attributed to the company's investments in artificial intelligence, which have made targeted ads more effective. Despite regulatory challenges and concerns about child safety, Meta's revenue increased to $40.11 billion in the last quarter of 2023, representing a 25% growth compared to the previous year. The company's stock price also jumped 17% in premarket trading. Other tech giants, such as Apple, Amazon, Microsoft, and Google, have also reported positive financial results. However, Meta is facing legal battles and regulatory scrutiny, particularly regarding the safety of children on its platform. The company expects its first-quarter revenue for 2024 to be between $34.5 billion and $37 billion. [Extracted from the article]
- Published
- 2024