On February 1st local time, Meta released an estimated revenue of $34.5 billion to $37 billion for the first quarter of this fiscal year, higher than analyst expectations. Meta's revenue in the fourth quarter of the previous fiscal year was $40.11 billion, a year-on-year increase of 25%, with advertising revenue reaching $38.71 billion, a year-on-year increase of 24%.
Meta also announced its first quarterly dividend of 50 cents per share and approved an additional $50 billion in stock buybacks.