Key Points
Meta Platforms saw its share price jump 20% Friday following strong fourth-quarter results that included a significantly boosted share buyback and the companys first-ever dividend..
Besides the aforementioned buybacks and dividend, the company used its fourth-quarter report Thursday to raise the high end of its capital-expenditure forecast by $2 billion, to $37 billion for this year..
Meta is also hiring again, which Chief Financial Officer Susan Li said Thursday will further shift our workforce composition toward higher-cost technical roles." And Zuckerberg hasnt given up on the metaverse: During the companys earnings call, he referred to AI and the metaverse as two major parts of our long-term vision.".
This aint your fathers FB," wrote Mark Mahaney of Evercore ISI, noting Metas reduced cost structure, improving ad-revenue growth and shareholder-friendly moves, such as the dividend..
And the Reality Labs unit that houses the companys metaverse efforts even had a surprising jump in revenue in the fourth quarter, crossing the $1 billion mark for the first time, thanks to strong sales of the companys Quest VR headsets..
You might be interested in
Mark Zuckerberg ’s wealth increased to $87 billion in 2023 after Meta laid off more than 20,000 employees
29, Apr, 23Meta's stock price increased by 14 per cent after the company reported better-than-expected revenues of $28.6 billion in the first quarter of 2023.
More than 70 per cent Meta employees think Mark Zuckerberg isn’t a good boss, internal survey reveals
11, Jun, 23According to a report, a recent survey revealed that only 26 per cent Meta employees are confident about Mark Zuckerberg's leadership.
Zuckerberg touts AI might as digital ads boost outlook
27, Apr, 23Meta, which has been slow to adopt AI-friendly hardware and software systems for its main business, has carried out several overhauls to bolster its business.
Meta to cut 10,000 jobs, close about 5,000 open roles in efficiency push
15, Mar, 23The Facebook parent company has been marketing 2023 as a year of efficiency in an effort to improve its financial performance and achieve longerterm goals
Facebook-parent Meta to cut 10,000 jobs in second round of layoffs
14, Mar, 23With the latest move Meta expects expenses in 2023 to come in between 86 billion and 92 billion lower than the 89 billion to 95 billion forecast previously
‘Meta’s Deception’ about Instagram’s harmful qualities alleged in Massachusetts suit
09, Nov, 23CEO Mark Zuckerberg nixed efforts to address potential harms to teens, according to the complaint.
Meta to signal future of AR/VR investments at annual Connect conference
27, Sep, 23Meta (META.O) CEO Mark Zuckerberg on Wednesday is set to update investors on his plan to build the immersive metaverse that he has pitched as the future of computing at the company's first in-person conference since the start of the pandemic.
Facebook's parent company Meta to resume hiring for select roles after May
28, Apr, 23Meta, over the past few months, have taken many aggressive steps to cut costs, which majorly involved getting rid of employees.
Mark Zuckerberg on how to run a company in 2023
15, Mar, 23Meta CEO outlines his management vision in a memo to employees: ‘Flatter is faster’