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:max_bytes(150000):strip_icc()/GettyImages-1498443143-9160a2509a034baa86dcb1b20848a26c.jpg "Meta Q4 2023 Earnings Beat Expectations; First Dividend Announcement Boosts Stock")
Key Takeaways
- Meta Platforms’ fourth-quarter earnings and revenue analysts’ expectations
- Company announced first-ever quarterly dividend payout of 50 cents per share.
- Net income more than tripled to $14.02 billion, or $5.33 per diluted share
- Revenue rose 25% to $40.11 billion
Meta Platforms’ (META) fourth-quarter earnings and revenue beat analyst expectations. The company also announced a 50 cents a share quarterly dividend payout for the first time, sending the company’s shares more than 14% higher in after-hours trading.
The company’s net income more than tripled to $14.02 billion, or $5.33 per diluted share, compared to $12.89 billion or $4.90 per diluted share pegged by analysts. Revenue increased 25% to $40.11 billion.
“We’ve made a lot of progress on our vision for advancing AI and the metaverse,” said the company’s founder and CEO Mark Zuckerberg.
| Q4 2023 | Analyst Estimates for Q4 2023 | Q4 2022 | Year-over-year % change | |
|---|---|---|---|---|
| Revenue | $40.11 billion | $38.9 billion | $32.2 billion | 25% |
| Earnings Per Share (Diluted) | $5.33 | $4.90 | $1.76 | 203% |
| Net Income ($B) | $14.02 billion | $12.89 billlion | $4.65 billion | 201% |
Meta shares were up 14.2% at $450.89 at around 4:35 p.m. ET.