Meta shares surge 20% on soaring profit, better-than-expected guidance and first-ever dividend
Publishing timestamp: 2024-02-02 11:55:47
Summary
Meta's shares jumped after the company reported a tripled profit in the fourth quarter and announced its first-ever dividend. The revenue rose 25% in the quarter, marking the fastest rate of growth since mid-2021. Investors praised Meta's decision to issue a dividend, and the stock rally added over $200 billion to Meta's market cap. The company also announced a $50 billion share buyback. Meta's CEO, Mark Zuckerberg, has been focusing on making the company more efficient and has been cutting costs. Overall, the article highlights Meta's strong financial performance and positive investor sentiment.
Sentiment: POSITIVE
Keywords: mark zuckerberg, technology, earnings, breaking news: technology, apple inc, business news, meta platforms inc, dividends, breaking news: markets, markets,