Meta Platforms (META) Increases Share Buyback by $50B
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'Patek Philippe of Internet': Analysts heap praise on Meta Platforms after blockbuster results
February 1, 2024 4:14 PM EST(Updated - February 2, 2024 5:49 AM EST)
Meta Platforms (NASDAQ: META) saw its stock rise as much as 16% in pre-market Friday following the announcement of strong fourth-quarter earnings and the introduction of a new buyback program.
The internet company reported a Q4 EPS of $5.33, easily surpassing the analyst estimate of $4.96. Revenue jumped 25% year-over-year to $40.11 billion, again topping the expected $39.02 billion.
"We had a good quarter as our community and business continue to grow," said Mark Zuckerberg, Meta founder and CEO. "We've made a lot of progress on our vision for... More
