Meta posts lower Q4 profit, announces huge stock buyback
Summary by CBS News
Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.
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Reuters
Meta stuns Street with lower costs, big buyback, upbeat sales
Meta Platforms Inc's stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the "Year of Efficiency."
Meta posts lower Q4 profit, announces huge stock buyback
Facebook parent company Meta has posted another quarter of declining revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. But the company’s
Meta posts lower Q4 profit, announces huge stock buyback
Facebook parent company Meta has posted another quarter of declining revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok
Meta posts lower Q4 profit, announces huge stock buyback
By BARBARA ORTUTAY
AP Technology Writer Facebook parent company Meta has posted another quarter of declining revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. Meta Platforms Inc. said Wednesday it earned $4.65 billion, or $1.76 per share, in the final three months of 2022. That’s down 55% from $10.29 billion, or $3.67 per share, a year earlier. According to a poll by FactSet, analysts were e…
Facebook-parent Meta announces $40 billion stock buyback
Meta added active users in the fourth quarter, but revenue growth still slowed, and the social networking company is emphasize its cash-generation powers.
Meta shares soar as company cuts spending, forecasts upbeat first-quarter sales
:Meta Platforms Inc on Wednesday forecast stricter control of expenses this year and first-quarter sales that could beat Wall Street estimates, sending shares soaring 19 per cent in after-hours trade.The world's biggest social media company cut its cost outlook for 2023 by $5 billion and expanded its share bu