This week's final trading session on Wall Street was dominated by the reaction to Meta Platforms' (META.US) quarterly results, which lifted the company's shares more than 23% higher. Strong growth in advertising revenue, stronger-than-expected new user growth and an increased share buyback programme lifted the company's shares clearly above the all-time high. What's more, the company announced its first-ever dividend, was optimistic about business conditions in 2024 and announced major investments in AI. In the first quarter of 2024, the company's revenue is expected to grow by 20-30%!
From a statistical point of view for the average of the last 4 years, today's share price momentum of Meta Platforms is approaching 7-standard deviations!
Source: xStation
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