Meta Share Price in india
Meta Platforms said it will pay a dividend of 50 cents per share and has authorized the purchase of an additional $50 billion in shares.
Meta Platforms, the mother company of social media platforms like Facebook and Instagram, has reported good financial results for the December quarter, and also declared a dividend for the first time. Along with this, it was told that he has approved to buy shares worth another $50 billion.
Meta’s revenue rose 25% to $40.1 billion in the quarter ending Dec. 31, beating experts’ expectations of $39.2 billion. That sent earnings per share up more than 200% to $5.33, beating estimates of $4.97.
Meta prices rose more than 14% after the market bell, part of the recovery seen recently. Meta’s stock market value has increased their value to more than $140 billion. On top of this increase in value, his value has also quintupled the overall value of small social media company Snap Inc.
“We’ve made tremendous progress advancing AI and the metaverse,” Mark Zuckerberg, Meta’s CEO, said in a prepared statement.
After the first quarter, Meta reported next quarter’s expected revenue range of $34.5 billion to $37 billion, exceeding Wall Street’s expectations of $33.8 billion. The company also said that they project total spending throughout 2024 to be between $94 billion to $99 billion.
Meta’s Reality Labs division has reported record sales of $1.1 billion during the holiday season, which was according to analysts, and they noted that seeing the Meta share price
This was boosted by “strong sales” of their Quest devices over the holiday season.
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Meta said they are expecting “operating losses to increase significantly” for Reality Labs as they invest even more in augmented reality and virtual reality in 2024.
Meta prices are stabilizing after the meltdown in 2022 that wiped off more than three-quarters of their once-value. The stability of Meta’s shares has been supported by Meta’s user growth and improving digital advertising sales.
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