Tech
Meta and Amazon wow investors with better-than-expected earnings
Facebook parent unveils plans for a $50 billion stock buyback and announces its first ever quarterly dividend
Meta Platforms and Amazon have both reported better-than-expected earnings, with their stock prices soaring by a combined $270 billion in after-hours trading.
Meta, which cut headcount by 22 per cent in 2023, unveiled plans for a $50 billion stock buyback, and even announced its first ever quarterly dividend — a sign to investors that it has money to spare and a reason for them to stick around.
The company reported strong fourth-quarter results, posting a ...