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Meta’s stock rises 15% as its Q4 net income hits $14 billion

Washington: After-hours trading saw a more than 15 percent spike in shares of Facebook parent firm Meta, as the company revealed a 201 percent annual growth in fourth-quarter net earnings, fueled by higher advertising income and more users.

In the quarter that concluded on December 31, the California-based corporation reported a net profit of almost $14 billion, a 21 percent increase over the third quarter’s earnings.

Over the course of the three months, revenue surpassed analyst projections of $39.1 billion, rising by an annual 25 percent to exceed $40.1 billion.

Meta’s family of apps includes Facebook, Instagram, Messenger, WhatsApp and other services.

“We had a good quarter as our community and business continue to grow,” said Mark Zuckerberg, Meta founder and chief executive.

Source: Jordan News Agency