Meta Makes History with $200 Billion Market Value Increase

Meta Platforms is preparing to become the best-performing company in Wall Street history, as the company’s shares increased by 21% on Friday, adding nearly $200 billion to its market value.

This is the largest market value addition in a single session in the history of the US markets.

The “Meta” share rose, gaining momentum from Thursday’s announcement, of achieving profits of $14 billion in the last three months of the previous year, surpassing analysts’ expectations, and revealing the first ever dividends for shareholders in the company’s history of 50 cents per share, in addition to a $50 billion share buyback.

Just two years ago, the company that owns “Facebook” suffered the largest market value loss in the history of the stock market. However, since then, it has made significant progress, impressing shareholders with an impressive quarterly earnings report.

The social media giant focuses on cost reduction and supporting billions of dollars in profits.

In the markets, the Standard & Poor’s index rose by 0.3% as Treasury bond yields increased following the release of strong economic data, leading to the balancing of new technology profits.

While the Dow Jones industrial average lost 125 points or 0.3%, the Nasdaq Composite rose 0.7%, supported by technology momentum.

Nvidia reached a new record level at $654, increasing by 3.7%, while Amazon surged 7%, reaching the highest level in 52 weeks at over $170.

On the other hand, Apple declined by 2.4% to $182, and Google dropped by 2.4% to $137.

The company “Meta” announced that quarterly revenues jumped by 25% to $40.1 billion, which is the fastest growth rate since mid-2021, as the online advertising market continues to recover.

Net income more than tripled to $14 billion. The number of daily active users reached 2.11 billion and 3.07 billion monthly.

On its part, Apple announced results that exceeded revenue and profit estimates, however, it showed a 13% decline in sales in China, one of its key markets.

The company reported a net income of $33.92 billion during the quarter, reflecting a 13% increase, and recorded revenues of $119.58 billion. iPhone sales revenue reached $69.7 billion.

Amazon announced results that exceeded analysts’ estimates and provided strong guidance for the current quarter. Revenues rose by 14% to $170 billion, surpassing expectations of $166.2 billion.

The revenue of Amazon Web Services reached $24.2 billion and advertising revenue reached $14.7 billion.

The results of the e-commerce giant’s business showed a net income increase of over 3700%, reaching $10.6 billion.