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Meta soars on the stock market after gaining 69% more

The American technology company Meta , owner of Facebook, Instagram and WhatsApp , closed the last year with positive figures on its balance sheet, recording significant growth in both revenue – above expectations – and profitability.

Thus, the Californian firm recorded an annual net profit of 39,098 million dollars (36,200 million euros at the current exchange rate), which translates into a strong progression of 69% in the year-on-year comparison. The business volume also improved considerably, which stood at 134,902 million dollars (almost 125,000 million euros) between January and December 2023, a 16% improvement.

Meta indicated yesterday when presenting its annual accounts that its results benefited in 2023 from the positive currency exchange rate in the amount of 374 million dollars (346 million euros). In addition, the firm, which cut its global workforce by 22% last year, up to 67,317 people, incurred restructuring expenses amounting to 3,450 million dollars (3,194 million euros), compared to the 4,610 million dollars it allocated to its restructuring in 2022. In total, the company’s costs fell by 1% throughout the year, to $88.15 billion (€82 million).

If only the last quarter of 2023 is counted, the American company tripled its net result , up to a total of 14,017 million dollars (12,978 million euros), 201% more. Quarterly turnover, for its part, rose 25% to end the last quarter of the year at 40,111 million dollars (37,139 million euros).

Forecasts for 2024

Looking ahead to the year that has just begun, the financial director of the technology multinational, Susan Li , stated that her estimate is to close the first quarter with revenues of between 34.5 billion and 37 billion dollars, with a neutral impact of exchange rates. of currency.

The company’s spending forecast ranges from $94 billion to $99 billion, in line with its previous forecast. Li also confirmed that Meta is focused on strengthening itself in Artificial Intelligence and highlighted that its long-term ambitions in terms of research and product development will require large investments in infrastructure beyond 2024.

Meta will pay a dividend of $0.5 per share on March 26.

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