Meta Shares Soar as the Tech Company Declares First Dividend

Meta Platforms issued its first dividend days ahead of flagship social network Facebook’s 20th anniversary, while reporting revenue and profit that beat expectations on robust ad sales in the holiday shopping period.

Shares soared more than 14% after the bell, pushing the company’s stock market valuation up by more than $140 billion and extending a long recovery that saw Meta hit record highs in recent weeks for the first time in more than two years.

The after-hours gains alone amounted to more than quintuple the entire value of social media rival Snap Inc.

Read the source article at Yahoo Finance