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: GOOGL, META, PINS, AAPL, AMZN,
Keywords: amazon.com inc, pinterest inc, breaking news: technology, meta platforms inc, mark zuckerberg, mobile, alphabet class a, internet, social media, business news, technology, apple inc,
Source: https://www.cnbc.com/2023/02/01/facebook-parent-meta-earnings-q4-2022.html