The social network company provided investors with a wealth of positive news, including triple-digit annual quarterly profits reaching over $14 billion (£11 billion), a sharp increase in users, reduced expenses, and more ad sales.
Even its frequently mocked, money-losing virtual reality unit crossed a milestone, producing $1bn in revenue.
To show that it was confident, the firm announced its first-ever dividend.
That represents a distribution to shareholders, or fifty cents per share in this instance.
The corporation, which owns Facebook, Instagram, and WhatsApp, also promised to continue funding the project, stating that it was in a solid financial position and could make investments in the company while continuing to prepare for quarterly payments of this kind “going forward”.
Shares in the firm, already at record highs, rose more than 12% in after-hours activity.
The decision to declare a dividend, analysts argued, was a show of maturity as Facebook gets closer to turning 20.
It validated the change in investor perception from 2022, when the company’s stock had plummeted and a prominent investor had publicly complained to Mr. Zuckerberg that the business had “drifted into the land of excess.”
“needs to get its “mojo back” and “had too many people, too many ideas, and too little urgency.”
Elsewhere in big tech, business was also excellent.
Between September and December of last year, Amazon’s sales increased by 14% year over year. Its earnings above experts’ projections after it witnessed robust growth in online sales during the holidays, which was supported by steady expansion in its cloud computing division.
The results pushed Amazon shares up more than 8% in after-hours activity.
Due to increasing iPhone sales, Apple’s revenue increased for the first time in a year and its earnings exceeded forecasts. Nevertheless, its shares fell 3% in after-hours trading as the company predicted a decline in iPhone sales due to fierce competition in China.
