Meta Q4 Earnings Beat Estimates: Net Income Rises, Revenue Surpasses Forecasts
Meta Platforms (META) reported strong fourth-quarter results on Wednesday, with net income reaching $20.84 billion, or $8.02 per share. These figures exceeded Wall Street expectations, as analysts surveyed by Zacks Investment Research had forecast earnings of $6.68 per share.
Revenue for the period amounted to $48.39 billion, also surpassing market estimates. Fourteen analysts polled by Zacks had anticipated revenue of $46.97 billion.
Meta's financial performance has been driven by continued user growth and increased engagement on its social media platforms, particularly Facebook and Instagram. The company is also benefiting from expanding its advertising offerings and investing in new businesses, such as the metaverse and e-commerce.