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Meta posts stronger-than-expected Q4 results though costs continue to soar
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104.1 KSGF
Meta’s fourth-quarter results jumped past Wall Street’s expectations thanks to solid advertising revenue, sending shares sharply higher in after-hours trading Wednesday.
The company earned $22.77 billion, or $8.88 per share, in the October-December quarter.
That’s up 9% from $20.84 billion, or $8.02 per share, in the same period a year earlier.
Analysts, on average, were expecting earnings of $8.21 per share on revenue of $58.5 billion, according to a poll by FactSet.
For the current quarter, Meta is forecasting revenue in the range of $53.5 billion to $56.5 billion.