Facebook proprietor Meta to pay first dividend

Facebook proprietor Meta mentioned it should pay its first dividend as three of the world’s largest tech corporations posted bumper figures.

In an announcement final evening, the social media big proposed a divi of $0.50 per share in a significant increase for traders.

It got here as Meta posted revenues of £106billion for 2023, up 16 per cent from the 12 months earlier than.

Profits climbed 1 / 4 to £31billion.

The firm, which owns Instagram and Whatsapp in addition to Facebook, mentioned it now intends to pay a money dividend on a quarterly foundation.

In an announcement final evening, social media big Meta proposed a divi of $0.50 per share in a significant increase for traders

The dividend announcement rounds off founder Mark Zuckerberg’s so-called ‘year of efficiency’, which noticed the group lay off 21,000 staff and lower a number of progressive initiatives.

The firm now has round 67,000 staff around the globe, a fifth lower than it did the 12 months earlier than.

Meta shares jumped 14 per cent in after-hours buying and selling following the announcement.

But it wasn’t simply Facebook that loved a lift.

Amazon additionally posted stellar figures for the 12 months, with gross sales hitting £451billion in 2023.

This was up from the £403billion it made the earlier 12 months and got here after gross sales within the Christmas quarter reached £133billion.

Annual earnings for the 12 months hit £24billion.

Andy Jassy, Amazon chief govt, mentioned: ‘This fourth quarter was a record-breaking holiday shopping season and closed out a robust 2023 for Amazon’. 

Amazon had additionally lower 28,000 jobs throughout 2023 because it retreated from its hiring spree throughout the pandemic.

The tech sector lower 262,595 jobs in whole by the course of 2023, in response to knowledge tracker Layoffs.fyi.

Meanwhile Apple, which managed to dodge any main job cuts final 12 months, posted a robust first quarter.

This was largely bolstered by gross sales of its iPhone and powerful development at its companies arm, which incorporates streaming service Apple TV.

The tech big posted revenues of £94billion for the three months to the tip of December, whereas earnings hit £27billion.

The outcomes come sizzling on the heels of fellow ‘Magnificent Seven’ members, Google mum or dad Alphabet and Microsoft, which each posted their very own quarterly outcomes this week.

Alphabet reported its fastest-growing quarter of income development since early 2022, with gross sales of £67.7billion for the three months to the tip of December – up 13 per cent from a 12 months earlier than, boosted by its cloud computing arm.

But promoting remained a sore level, with fierce competitors from platforms resembling Facebook, Tiktok and Amazon, and a troublesome financial backdrop.

Microsoft, which not too long ago grew to become the world’s most useful firm – topping $3trillion – posted file gross sales of £49billion within the three months to December on the again of booming demand for AI and cloud know-how.