Meta, the big company that owns Facebook, is doing really well with money. They just shared their earnings for the last three months of 2023, and things are looking great. They’re going to give some money back to people who own shares of their company, which includes Mark Zuckerberg, the person who started Facebook.
Meta Stock Soars 20 percent after First-Ever Dividend Announcement
Each share of Meta will get $0.50, and they’re also planning to buy back $50 billion worth of their own shares. This is good news for investors, including Zuckerberg, who could get an extra $175 million in addition to the $350 million he already has in Meta shares. If Meta keeps giving out money like this every three months, Zuckerberg could get $700 million more every year.
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Zuckerberg also told investors that Meta will keep investing a lot of money in AI (artificial intelligence) and the metaverse, which is a virtual world. He believes that the next generation of technology will make virtual experiences feel real, and that’s what they are working towards.
Image Credit : about.fb.com
This is a big change for Meta because their stock didn’t do well in 2022, dropping by more than 70%. But now, the stock is doing better than ever, reaching a high of $461.47 per share. This is a 16% increase from the last price of $394.78 before the market closed on Thursday.
Meta Stock Soars 20 percent after First-Ever Dividend Announcement
In the last three months of 2023, Meta made 25% more money compared to the same time last year, going from $32.2 billion to $40.1 billion. Mark Zuckerberg, the CEO of Meta, said they had a good quarter and are making progress in their plans for advanced technology and virtual reality.
