Facebook owner Meta Platforms ( META ) reported fourth-quarter results late Wednesday that beat on revenue as the company struggles through the most difficult period since its founding 19 years ago. Meta stock soared as the company announced a $40 billion stock buyback. Also, Meta provided revenue guidance that beat estimates. For its first quarter, the company expects revenue in the range of $26 billion to $28.5 billion. The midpoint of $27.4 billion is above estimates of $27.1 billion. The company reported adjusted earnings of $1.76 a share on revenue of $32.16 billion. Analysts expected revenue of $31.55 billion, according to FactSet. Meta stock soared 17.9% to 180.85, during after-hours trading on the stock market today . Difficult Year For Meta The earnings report comes amid a highly difficult year for Meta, which announced plans in November to cut 11,000 jobs . The job cuts involve 13% of Meta’s workforce. Meta also said it announced Wednesday a $40 billion increase in its share authorization. Like other social media companies, including Snap ( SNAP ), Etsy ( ETSY ) and Pinterest ( PINS ), Meta is challenged not only by macroeconomic weakness but also by a painful drop in digital […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
