Meta Platforms Inc (NASDAQ:META) shares jumped more than 17% after-hours following the company’s reported Q4 results, with revenue of $32.17 billion (down 4% year-over-year) coming in better than the consensus estimate of $31.53B.
Q4 EPS was $1.76, missing the consensus estimate of $2.26. Net income dropped 55% to $4.65B.
Family daily active people (DAP) grew 5% year-over-year to 2.96B on average for December 2022. Family monthly active people (MAP) grew 4% year-over-year to 3.74B.
“Facebook just reached the milestone of 2 billion daily actives," said Mark Zuckerberg, Meta founder and CEO. "The progress we're making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization."
For Q1/23, the company expects revenue in the range of $26B to $28.5B, compared to the consensus estimate of $27.25B.
The company expects full-year 2023 total expenses to be in the range of $89B to $95B, lowered from its prior outlook of $94B to $100B due to slower anticipated growth in payroll expenses and cost of revenue.
The company also announced a $40B increase in its share repurchase authorization.
By Davit Kirakosyan