Meta formally known as Facebook, new stock highs, first dividend

[GOTSpectrum]

Summary

Meta, the parent company of Facebook, reported exceptional quarterly results, with profits tripling to over $14 billion year-on-year, a surge in users, reduced costs, and increased ad sales. The company announced its first-ever dividend of 50 cents per share and pledged to continue such payments quarterly. Meta's stock price rose over 12% in after-hours trading. Despite regulatory challenges, Meta boasts nearly 3.2 billion daily active users and recorded revenue exceeding $40 billion for the September-December period. 

 

Quotes

Quote

That is a payout to shareholders - in this case of 50 cents per share.

The company, owner of Facebook, Instagram and WhatsApp, also pledged to keep the money flowing, saying it was in a strong financial position, and could invest in the business while still making plans for such payments on a quarterly basis "going forward".

 

My thoughts

Interesting to see that despite that they are being hammered by the US gov they are showing that the product "sells". They have massively increased profits and even paid their first dividend. It will be interesting to see if they can weather the probable coming regulation storm. 

 

Sources

https://www.bbc.co.uk/news/business-68175778

[Alex Atkin UK]

8 minutes ago, GOTSpectrum said:

My thoughts

Interesting to see that despite that they are being hammered by the US gov they are showing that the product "sells". They have massively increased profits and even paid their first dividend. It will be interesting to see if they can weather the probable coming regulation storm.

I guess enough people fall for the sponsors posts which they have gotten even more aggressive with.

 

I checked my feed a few days ago and there were THREE sponsored posts on the page before the actual content.  I don't know how anyone puts up with that, its what stopped me using Facebook and Instagram regularly.

[Levent]

Zuck better send a bouquet of muffins to Musk for his help.

[Alex Atkin UK]

9 minutes ago, Levent said:

Zuck better send a bouquet of muffins to Musk for his help.

That would actually be hilarious.  I don't like either of them but I'd love to see Musk choke on his hubris.  He honestly thinks that by deliberately killing Twitter by alienating advertisers he is going to win some sort of popularity contest.  He literally said the quiet part out loud in an interview which even the interviewer, a friend of his, seemed utterly baffled at.

 

The irony is the ardent Musk fans will considering him a winner regardless, while the rest of us sit back and slowly blink in confusion.  He seems to be on a mission of self destruction, I just wish he would get it done already so that he can stop taking funds away from people who are actually innovating in the tech space, rather than throwing money away.