One of the most anticipated earnings calls of the week is here. Mark Zuckerberg’s, Meta Platforms Inc. (NYSE:META), announced the latest results from Q4 2023 after the market closed on Thursday.
The company did not disappoint investors and topped both revenue and earnings per share (EPS) estimates, sending the stock higher.
Meta achieved revenue of $40.111 billion for the last quarter of 2023 vs. $39.124 billion expected. Revenue was up by 25% year-over-year.
EPS reached $5.33 per share vs. $4.822 per share estimate, rising by 205% from the same period last year.
The tech giant also announced its first ever dividend of $0.50 per share. The dividend will be paid to shareholders as of close of business on 22/2/2024 and will be paid on 26/3/2024. Meta plans to distribute a dividend every quarter ”subject to market conditions and approval by our board of directors.”
Company overview
CEO commentary
Mark Zuckerberg was short and sweet in a statement to investors: “We had a good quarter as our community and business continue to grow.”
“We’ve made a lot of progress on our vision for advancing AI and the metaverse,” highlighted company’s work on AI.
Stock reaction
The stock was up by 1.19% at the end of Thursday at $394.78 per share.
Shares rose by over 14% in the after-hours trading after Meta’s results exceeded expectations. One to watch at the open Friday.
Stock performance
Meta Platforms stock price targets
Meta Platforms Inc. is the 7th largest company in the world with a market cap of $1.014 trillion, according to CompaniesMarketCap.
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Sources: Meta Platforms Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
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