For the first time in its history, Meta* announced plans to pay dividends. The corporation’s revenue in the fourth quarter reached $40.1 billion, an increase of 25%.
As can be seen from the report, Meta*’s net profit during this period tripled to $14 billion, while revenue for the whole of last year amounted to $134.9 billion (+16%). Net income was $39.1 billion, an increase of 69%.
In connection with the highest quarterly results in the last two years, the company announced plans to pay dividends to shareholders in the amount of $0.5 per share. Additionally, Meta* approved a $50 billion share buyback program.
According to analysts, the company’s high performance is associated with growing interest in artificial intelligence technologies, as well as increasing revenue from online advertising.
Earlier this week, the American company Apple reported the successful completion of the first quarter. Its revenues amounted to $119.6 billion, up 2% from last year.
*Meta and its Facebook and Instagram members are recognized as extremist organizations whose activities are prohibited in the Russian Federation.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
