From Nasdaq:

Meta Platforms Inc. reported an impressive 25% year-on-year increase in fourth-quarter revenue, amounting to $40.11 billion. The company also declared its first-ever quarterly dividend and intends to continue paying a cash dividend on a quarterly basis. Meta’s stock saw a 20% rise on Thursday post the earnings announcement and has gained over 37% since the beginning of 2024. Their stock rally helped Zuckerberg re-enter the top five on Bloomberg Billionaires Index.

Analysts are bullish on Meta’s potential, with price targets being upgraded to $500 to $525. Meta also announced the second generation of its AI chip and is focusing on competing with Apple Inc.’s Vision Pro headset. Despite the stock’s rally, Deepwater Asset Management’s Gene Munster believes there is still some growth potential, projecting earnings to grow about 50% over the next two years. Goldman Sachs’ Eric Sheridan sees the fourth-quarter performance as a positive sign for investors.



Read more: Mark Zuckerberg ‘Just Getting Started,’ Says Ives. Munster Says ‘Not Too Late’ To Buy Meta