Meta fourth quarter numbers are in

Meta Platforms (FB) reported its fourth quarter financial numbers after the closing bell on Wall Street on Wednesday.

The company reported total revenue of $33.671 billion (up by 20% year-over-year), above analyst forecast of $33.357 billion.

Earnings per share at $3.67 (down by 5% year-over-year), falling short of analyst estimate of $3.85 per share.

Founder and CEO, Mark Zuckerberg commented on the latest results: ”We had a solid quarter as people turned to our products to stay connected and businesses continued to use our services to grow.”

Zuckerberg also outlined the progress the company has made and highlighted what the company will focus this year: ”I’m encouraged by the progress we made this past year in a number of important growth areas like Reels, commerce, and virtual reality, and we’ll continue investing in these and other key priorities in 2022 as we work towards building the metaverse.”

The company also announced that it expects to replace its existing ticker symbol ”FB” to ”META” in the first half of 2022 following the rebrand last year.

Meta Platforms (FB) chart (Weekly)

Shares of Meta ended the Wednesday trading day higher, up by 1.25% at $321.96. The stock dropped by around 20% in the after-hours trading following the latest results.

Meta is the 7^th largest company in the world with a total market cap of $898.50 billion.

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Sources: Meta Platforms, TradingView, GO Markets MT5, CompaniesMarketCap