2024-02-04 07:35:14 ET
Summary
- Meta Platforms reported better-than-expected earnings, driven by strong performance in its digital advertising segment.
- The company is expected to benefit from lower costs in 2024 after significant layoffs in the previous year.
- Meta Platforms announced its first ever dividend and a $50 billion share repurchase, leading to a 15% surge in its stock price.
Earnings of Facebook-parent Meta Platforms ( META ) were better-than-expected on Thursday and the tech giant’s digital advertising segment profited profoundly. The company is also poised to profit from lower costs in 2024 as it laid off a substantial amount of people last year.
I think that Meta Platforms is still very much attractively valued at this point, particularly because the social media company announced its first-ever dividend and announced a $50 billion share repurchase....
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Meta Soars As The Cash Floodgates Open