Books open: Meta share ignites after-hours turbo on NASDAQ: Facebook parent Meta with profit decline – sales higher than expected | news

In the completed fourth quarter of 2022, Meta Platforms posted earnings of $1.76 per share. That’s a significant decrease from the prior-year period, when EPS was $3.67 per share. Analysts had expected earnings per share to drop to $2.26 on average.

In terms of sales, the Facebook parent has 32.17 billion US dollars on its books for the past quarter. The estimates of the experts amounted to 31.55 billion US dollars, after Mark Zuckerberg’s group had turned over 33.67 billion US dollars in the same quarter of the previous year.

For full fiscal 2022, Meta’s earnings per share were $8.59. Analysts had predicted a sharp drop from $13.77 per share last year to $9.08 per share now. In terms of sales, the experts forecast a value of 116.05 billion US dollars for the fiscal year 2022, after 117.93 billion US dollars in the previous financial year. In fact, the Facebook parent turned over $116.61 billion for the full year.

On the NASDAQ, the Meta share is temporarily up 17.33 percent after the hours at $179.66.

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