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Meta shares soar almost 20% on fourth-quarter revenue beat - TL;DR CNBC

Meta shares soar almost 20% on fourth-quarter revenue beat

Publishing timestamp: 2023-02-01 18:20:28


Summary

Meta reported fourth-quarter revenue that exceeded estimates and announced a $40 billion stock buyback. Daily Active Users (DAUs) and Monthly Active Users (MAUs) also exceeded expectations. Revenue in the fourth quarter fell 4% from the year earlier, but the company expects revenue in the first quarter of between $26 billion and $28.5 billion. Meta also said it is shifting to a more cost-efficient data center architecture and lowering its capital expenditure estimates for the year.


Sentiment: POSITIVE

Tickers: GOOGLMETAPINSAAPLAMZN

Keywords: amazon.com incpinterest incbreaking news: technologymeta platforms incmark zuckerbergmobilealphabet class ainternetsocial mediabusiness newstechnologyapple inc

Source: https://www.cnbc.com/2023/02/01/facebook-parent-meta-earnings-q4-2022.html


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