Meta shares jump 14%, investors receive dividend

Meta, the parent company of Facebook, Instagram and WhatsApp, reported an impressive $14 billion fourth-quarter profit—a massive 200% jump compared to the same time last year.

Sales from the quarter experienced a 25% growth from the year before to more than $40 billion.

Investors celebrated as the company also announced its first-ever cash dividend at $0.50 per share and a massive $50 billion share buyback. Meta’s stock skyrocketed by over 14% in after-hours trading.

Efficiency
Meta’s “year of efficiency” paid off. CEO Mark Zuckerberg made some strategic moves last year—cost-cutting and layoffs—that have helped the tech giant in reversing its 2023 trajectory.

The company’s stock gained 109% in a year, and its overall profits for 2023 increased by 69% to an impressive $39 billion.

AI will be Meta’s significant investment in 2024. It has earmarked $30-37 billion for AI and non-AI infrastructure.

Despite these achievements, the tech firm faces criticism for privacy violations and platform-induced violence, with Zuckerberg recently testifying before the Senate on online child safety.