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Meta stock jumps 20% after earnings in biggest market-cap jump in stock market history ... at its lows in 2022, the stock fell to as low as $90. Meta's market cap now stands north of $1.2 trillion ...
Meta unveiled a new $40 billion stock buyback authorization, giving it $50 billion total capacity. "The $40 billion increase in the share repurchase authorization provides additional EPS support ...
Meta stock took a hit in 2022 as did the rest of the market. That year, the company posted a surprise 1% year-over-year revenue drop, which occurred after years of tremendous double-digit sales gains.
[73] [74] [75] On October 27, 2022, Meta's market value dropped to $268 billion, a loss of around $700 billion compared to 2021, and its shares fell by 24%. It lost its spot among the top 20 US companies by market cap, despite reaching the top 5 in the previous year. [76] In November 2022, Meta laid off 11,000 employees, 13% of its workforce.
Meta reported its Q4 2022 earnings today after the bell, and the Facebook parent beat key revenue expectations and growing losses on its metaverse operation.It also announced a $40 billion stock ...
“2022 was a relative disaster by almost any measure with the sector's FY performance [and] valuation falling 56% and 53% respectively,” Erickson wrote in a Jan. 11 note about internet stocks.
Both companies split their stock 20-for-1 in 2022, when each traded for more than $2,000 per share. This brought them down to more reasonable levels, at a split-adjusted $100 per share.
Meta stock jumped after it announced a large workforce reduction at the end of 2022, and investors seem to hope that this next round of layoffs will give a bump to profits as well.