Meta, the parent of Facebook and Instagram, has announced its first ever dividend and an additional $50bn in share buybacks as bumper fourth-quarter results sent its shares up by more than 12 per cent in after-hours trading.
The social media group announced a quarterly dividend of 50 cents per share payable on March 26.
Revenues at Meta rose 25 per cent in the fourth quarter to $40.1bn, it said, beating analyst expectations of a rise to $39.1bn. Net income jumped 201 per cent to $14bn, beating consensus estimates of $13bn compiled by S&P Capital IQ.
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