Meta Platforms Inc., formerly Facebook Inc., recently disclosed its financial performance for the fourth quarter, which outperformed the previous year and surpassed Street estimates.
The company's earnings amounted to a staggering $14.02 billion or an equivalent of $5.33 per share. This is a massive leap from last year's fourth-quarter results, which were calculated at $4.65 billion or $1.76 per share.
Projected earnings for Meta were anticipated to hit approximately $4.96 per share, as compiled by Thomson Reuters. Worth noting is that these predictions often overlook unique, occasional items.
The revenues for the quarter witnessed a 24.7% increase, hiking to $40.11 billion from the prior year's $32.17 billion.
Here is a quick view of the earnings of Meta Platforms Inc under Generally Accepted Accounting Principles (GAAP):
- Q4 Earnings: $14.02 billion, a significant jump from $4.65 billion observed in the previous year.
- Q4 Earnings Per Share (EPS): $5.33, compared to $1.76 during the same period the previous year.
- Analyst Estimate: $4.96
- Q4 Revenue: $40.11 billion, a decent climb from $32.17 billion last year.
As for future projections, Meta forecasted that revenue for the next quarter would settle somewhere between $34.5 billion and $37 billion.
