Company Exceeds Analyst Expectations Announces Dividend Increase

Meta Platforms Inc Reports Strong Q4 Earnings

Company Exceeds Analyst Expectations, Announces Dividend Increase

Meta Platforms Inc META reported strong fourth-quarter earnings on Wednesday that exceeded analyst expectations. The company also announced a dividend increase, signaling its confidence in its future prospects.

Revenue for the quarter came in at $33.67 billion, up 21% year-over-year and slightly ahead of the consensus estimate of $33.58 billion. Net income was $10.29 billion, or $3.67 per share, compared to $10.39 billion, or $3.65 per share, in the prior-year period. On an adjusted basis, earnings per share were $3.84, beating the consensus estimate of $3.83.

The company attributed its strong performance to continued growth in its advertising business, which accounts for the majority of its revenue. Meta Platforms said that it had seen a "significant increase" in the number of users engaging with its platforms, including Facebook, Instagram, and WhatsApp.

In addition to its strong financial performance, Meta Platforms also announced a dividend increase. The company said that it would pay a quarterly dividend of $0.50 per share, up from $0.46 per share previously. The dividend increase reflects the company's confidence in its future prospects and its commitment to returning value to shareholders.

Meta Platforms stock was up 2% in pre-market trading on Wednesday following the release of its earnings report.