Meta announced its intention to pay dividends for the first time – Kommersant
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Revenue of Meta Corporation (recognized as extremist and banned in the Russian Federation) in the fourth quarter grew by 25%, to $40.1 billion. Net profit tripled, amounting to $14 billion. These are Meta’s best quarterly results over the past two years. For 2023 as a whole, the company’s revenue grew by 16%, to $134.9 billion, and net profit by 69%, to $39.1 billion. Meta shares rose 15% in over-the-counter trading.
For the first time in its history, Meta announced its intention to pay dividends to shareholders – $0.5 per share. The company also approved a $50 billion share buyback program. Experts say Meta is benefiting from growing interest in AI and increased online advertising revenue. Additionally, Meta, like many other technology companies, has made deep cuts and cut costs over the past two years.
Apple yesterday also presented successful reporting for the quarter. Previously reported Microsoft, Alphabet and AMD. Their shares fell after the publication of the report: despite the growth in revenue, investors were disappointed with the results, as they expected that AI-based products would bring more income to the companies.
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