Posted 2/1/2024, 5:33:36 PM
Meta Exceeds Earnings Expectations, Announces Buybacks and Dividend Despite Reality Labs Losses
- Meta beats Q4 earnings and revenue estimates, offers strong revenue outlook for current quarter
- Announces $50B increase to stock buyback program, initiates $0.50 per share quarterly dividend
- Advertising revenue beats at $38.7B; daily active FB users at 2.11B
- Reality Labs revenue tops estimates but division still loses $4.65B
- Forecasts 2023 expenses of $94B-$99B, notes headcount down 22% over past year