Stocks rise after better-than-expected earnings

meta (Meta) reported its Q4 2022 earnings after the bell today, and the Facebook parent beat key revenue expectations amid a tough ad market.

Here’s how the key numbers compared to analyst estimates compiled by Bloomberg.

Q4 Income – $32.17 billion actual and $31.65 billion expected

Advertising revenue – $31.25 billion actual and $30.86 billion expected

Adjusted Earnings per Share (EPS) – $1.76 actual and $2.26 expected

Facebook Daily Active Users (DAUs) – 2 billion actual and 1.98 billion expected

Family of Daily Active Apps (DAUs) – 2.96 billion actual and 2.92 billion expected

Reality Labs Operating Loss – – $4.28 billion actual and $3.99 billion expected

The company’s stock rose about 14% in after-hours trading.

The numbers cap what has been an exceptionally tough year for Meta, which also owns Instagram and WhatsApp. In 2022, the company’s shares fell roughly 63% as social media giant TikTok struggled with growing competition from high inflation and a stagnant digital advertising market.

Match Snap (SNAP) yesterday’s earnings report, Rarely Earnings are likely to decline in the first quarter of 2023, meeting Wall Street’s expectations on revenue and DAUs. Snap’s stock fell about 13% after the report.

MetaPlatforms CEO Mark Zuckerberg walks out of federal court following Facebook parent company’s acquisition of the virtual reality app developer in San Jose, California, USA on December 20, 2022. REUTERS/Laure Andrillon

Meta has a lot of moving parts

In today’s earnings report, Meta announced a significant $40 billion stock buyback. It was a strong move as the company laid off 11,000 workers in November and has more job openings. is reported Still on the table. Also, the company’s C-suite was reshuffled significantly Until last year, along with longtime COO Sheryl Sandberg Officially Leaving the company in September.

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It was a solid day for the meta is reported It won a lawsuit against the Federal Trade Commission (FTC) this morning, giving it the green light to buy inside VR developer Supernatural, the fitness app. The FTC has the option to appeal and, under Chair Lina Khan, will continue to investigate Meta’s future contracts.

Ally Garfinkle Senior Technology Correspondent at Yahoo Finance. Follow her on Twitter @agarfinks And on LinkedIn.

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