Meta* reported profit and loss for the fourth quarter of 2022. Against the backdrop of positive results, the company’s shares rose nearly 20% in extended trading.

Meta* shares soar 20% over end-2022 results

During the reporting period, the company’s revenue decreased 4% to $32.17 billion. Meta’s earnings per share (EPS)* came in at $1.76, reports CNBC.

The number of daily active users reached 2 billion compared to the 1.99 billion forecast. The number of monthly users increased to 2.96 billion from the forecast 2.98 billion.

The company increased its fourth-quarter expenses by 22% to $25.8 billion. By 2023, Meta* has enabled spending between $89 billion and $95 billion. Its revenue forecast for the first quarter of 2023 is between $26 billion and $28.5 billion.

The company announced a $40 billion share buyback. The company bought back its shares for $27.9 billion last year.

* recognized as an extremist organization and banned in Russia, included in the terrorist list

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karina pardaeva

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.


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