The shares of Meta Platforms (META) surged more than 20% on Friday on the release of the company’s new shareholder return initiatives and better-than-expected profits and forecast.
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The shares of Meta Platforms (META) 2024 first dividend
- Meta declared for the first time that it will distribute a quarterly dividend to shareholders. The distribution will be fifty cents per share on March 26. This coincides with an increase in cash and equivalents by the end of 2023 from $40.7 billion to $65.4 billion. Meta also announced a $50 billion share buyback.
- Following Friday’s stock market boom, Meta’s valuation reached $1.2 trillion and its market capitalization climbed by about $200 billion.
- After the firm reported a tripling of its fourth-quarter profit and paid out its first-ever dividend, Meta’s shares closed higher by more than 20% on Friday.
- Compared to the same period last year, Meta’s revenue climbed by 25% to $40.1 billion in the fourth quarter. This is the fastest growth rate since the middle of 2021, which adds to the evidence that the online advertising market is still growing. Meta’s net income increased by more than three times to $14 billion from $4.65 billion in the prior year.
The shares of Meta Platforms (META) 2024 market capitalization exceeds $1.2 trillion.
According to Bloomberg data, the company’s market valuation increased by about $200 billion during Friday’s rise, setting a record for the stock market. On Friday, Meta shares were trading at $475, which was the lowest
since at present, Meta’s market capitalization exceeds $1.2 trillion.
With $40.11 billion in revenue, Meta posted adjusted earnings per share (EPS) of $5.33 for the fourth quarter. Based on $39.01 billion in revenue, analysts were expecting adjusted earnings per share (EPS) of $4.94, according to Bloomberg consensus statistics. In the same quarter of the previous year, the corporation reported $32.2 billion in revenue.
The shares of Meta Platforms (META) 2024 With $40.11 billion in revenue
The business also started paying a $0.50 quarterly dividend per share and increased its authorization for stock buybacks by $50 billion. Meta announced that it expects revenue for the current quarter to be between $34.6 billion and $37 billion, which is higher than the $33.6 billion experts had predicted.
The shares of Meta Platforms (META) 2024 largest social media platform
As per the earnings data of its 2023 fourth quarter, Meta, the parent company of Facebook, the largest social media platform, is doing very well financially. The corporation has launched a $50 billion share buyback program that should also benefit investors, and it will pay $0.50 per share in dividends to stockholders. Thanks to the new policy, Zuckerberg, who owns around $350 million worth of Meta shares, should get an additional $175 million in dividends this quarter. Zuckerberg might make an extra $700 million a year if Meta keeps paying quarterly dividends at the same pace.
The shares of Meta Platforms (META) 2024 Meta’s stock price
Given that Meta’s stock price fell by more than 70% in 2022, the statement represents a dramatic turn around in the company’s fortunes. Early in January, the stock of the corporation at last hit and exceeded its Compared to the same period last year, Meta’s total sales increased by 25% in the fourth quarter, rising from $32.2 billion to $40.1 billion. In after-hours trading, the share price surged to $461.47 following the news, a gain of more than 16% from the previous closing price of $394.78 on Thursday afternoon.
The shares of Meta Platforms (META) 2024 Zuckerberg stated in a news release.
As our community and business continue to develop, we had a solid quarter,” CEO and creator of Meta Mark Zuckerberg stated in a news release.
Zuckerberg told investors in a webcast announcing the findings that the company will continue to support research into the metaverse and generative AI. I continue to anticipate that the upcoming generation of AR, VR, and MR computing platforms will provide a genuine sense of presence, which will serve as the cornerstone of social interactions.”
