On February 1, 2024, Meta Platforms, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2023. The company announced significant growth with a 25% increase in quarterly revenue to $40.11 billion and a 16% increase in annual revenue to $134.90 billion. Net income saw a substantial rise, with a 201% increase to $14.02 billion for the quarter and a 69% increase to $39.10 billion for the year. Earnings per share (EPS) also surged by 203% to $5.33 for the quarter and by 73% to $14.87 for the year. Operational highlights included an 8% increase in daily active people and a 6% increase in monthly active people across Meta's family of apps. The board of directors authorized a $50 billion increase in the share repurchase program and declared a quarterly cash dividend of...Show More

On February 1, 2024, Meta Platforms, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2023. The company announced significant growth with a 25% increase in quarterly revenue to $40.11 billion and a 16% increase in annual revenue to $134.90 billion. Net income saw a substantial rise, with a 201% increase to $14.02 billion for the quarter and a 69% increase to $39.10 billion for the year. Earnings per share (EPS) also surged by 203% to $5.33 for the quarter and by 73% to $14.87 for the year. Operational highlights included an 8% increase in daily active people and a 6% increase in monthly active people across Meta's family of apps. The board of directors authorized a $50 billion increase in the share repurchase program and declared a quarterly cash dividend of $0.50 per share, payable on March 26, 2024, to stockholders of record as of February 22, 2024. Meta also completed several restructuring measures, including data center initiatives and employee layoffs, resulting in restructuring charges of $3.45 billion for the year. Looking ahead, Meta expects first-quarter 2024 revenue to be between $34.5-37 billion and full-year expenses to range from $94-99 billion, with increased investments in AI and Reality Labs.