Shares of Meta, the parent company of Facebook and Instagram, jumped after the company reported better-than-expected fourth-quarter earnings and revenue.
Meta reported a 17% increase in revenue for the fourth quarter, beating analysts’ estimates. The company’s earnings per share also beat expectations, coming in at $2.10 compared to the expected $1.50.
The company’s stock rose nearly 17% on the news, with investors optimistic about its future prospects.
Two tech experts discussed the future for Meta and Snap, another social media giant, on CNBC Television. They noted that both companies have seen their stocks rise in recent months and that they expect both to continue to experience growth in the near future.
Overall, the news of Meta’s fourth-quarter earnings and revenue beat has been met with enthusiasm by investors and analysts alike. With the company’s stock price soaring, all eyes are now on the company to see how it will perform in the coming quarters.
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