Meta, revenues for the quarter above expectations: +14% on Wall Street

The company reported revenues of $32.17 billion, versus analyst expectations of $31.6 billion. Zuckerberg: “Our community continues to grow. Facebook has reached 2 billion daily active users”

Meta, Mark Zuckerberg’s company which also owns Facebook and Instagram, closed the fourth quarter of 2022 with revenues above expectations: 32.17 billion dollars, against the expectations of analysts who spoke of 31.6 billion. Net income, on the other hand, fell to $4.65 billion, or $1.76 per share. “If exchange rates had remained constant compared to 2021, revenues would have been higher” by 4% on an annual basis, Meta explained. Costs and expenses rose 22% in the fourth quarter to $25.77 billion, compared to $87.66 billion year over year. With the quarterly results, Meta also announced a $40 billion buyback plan. And Meta shares rise on Wall Street in after-hours trading, where they gain 14%.

Meta: “Measures were taken for greater efficiency”

“In the last three months of 2022 we have taken steps to be more efficient and to align our activities and our strategic priorities,” said Meta, forecasting revenues for the first quarter between 26 and 28.5 billion. “We anticipate total expenditure of between 89 and 95 billion for the whole of 2023, therefore less than the 94-100 billion” previously estimated, observed Meta. For investors, this is good news after the shower of criticisms that had been reserved for Zuckerberg for his plans and above all his expenses on the Metaverse.

Zuckerberg: “Facebook reaches 2 billion users a day”

“Our community continues to grow. Facebook has reached 2 billion daily active users,” said Meta CEO Mark Zuckerberg. “2023 is the year of efficiency and we are focused on becoming a company stronger and more agile,” the Facebook founder pointed out.