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- Company news: Meta Platforms (META) quarterly results beat analysts’ expectations
Company news: Meta Platforms (META) quarterly results beat analysts’ expectations
Meta Platforms (META) reported Q4 FY2022 earnings of $3.00 per share, beating analysts’ consensus estimate of $2.23 per share.
The company’s quarterly revenues amounted to $32.165 bln (-4.5% y/y), beating analysts’ consensus estimate of $31.690 bln.
The company said its DAUs were 2.00 billion on average for December 2022 (+4% y/y) and MAUs were 2.96 billion as of December 31, 2022 (+2% y/y).
Also, Meta issued in-line guidance for Q1 FY 2023, seeing revenues of $26.0-$28.5 bln versus analysts' consensus estimate of $27.25 bln. In addition, it lowered its FY2023 total expense guidance to $89-$95 bln from $94-$100 bln due to slower anticipated growth in payroll expenses and cost of revenue. Also, the company announced a $40 bln increase to share repurchase authorization.
META rose to $182.74 (+19.34%) in pre-market trading.
