Mark Zuckerberg’s company, Meta, experienced a challenging day in Washington, receiving criticism from senators.
However, on Wall Street, the company celebrated positive financial results and declared its first-ever dividend. The update included quarterly profits exceeding $14 billion, a surge in users, lower costs, and increased ad sales.
Meta’s virtual reality unit, often mocked for losses, reached a milestone with $1 billion in revenue. The company, encompassing Facebook, Instagram, and WhatsApp, also assured investors of its strong financial position, committing to regular dividends.
Shares rose over 12% in after-hours trade, reflecting investor confidence as Meta approaches its 20th anniversary. The move was seen as a sign of maturity following a turbulent period in 2022. In contrast, other tech giants, such as Amazon and Apple, reported positive results, contributing to overall optimism in the sector.
Despite facing regulatory challenges acknowledged by Meta, the company’s robust financials and user engagement fueled positive sentiments among investors.
