Facebook’s parent company Meta saw a threefold increase in fourth-quarter profit and the payment of its first-ever dividend on Friday, which sent its shares soaring.
In premarket trade in the United States, Meta’s stock price was up almost 17% as of about six in the morning ET.
Meta’s revenue increased to $32.2 billion in the fourth quarter of last year, a 25% increase. This comes amid a resurgence in the online ad business and is the fastest rate of increase for any period since mid-2021. From $4.65 billion to $14 billion in net income the previous year, Meta’s net income more than tripled.
Source (CNBC)
