Washington: After-hours trading saw a more than 15 percent spike in shares of Facebook parent firm Meta, as the company revealed a 201 percent annual growth in fourth-quarter net earnings, fueled by higher advertising income and more users.
In the quarter that concluded on December 31, the California-based corporation reported a net profit of almost $14 billion, a 21 percent increase over the third quarter’s earnings.
Over the course of the three months, revenue surpassed analyst projections of $39.1 billion, rising by an annual 25 percent to exceed $40.1 billion.
Meta’s family of apps includes Facebook, Instagram, Messenger, WhatsApp and other services.
“We had a good quarter as our community and business continue to grow,” said Mark Zuckerberg, Meta founder and chief executive.
Source: Jordan News Agency