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Meta Stock Skyrockets Over 16% Premarket: What’s Fueling The Stratospheric Rally?

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Meta Platforms, Inc. (NASDAQ:META) shares surged in premarket trading on Friday following its stellar quarterly results, with the board’s approval for a dividend initiation adding momentum to the rally.

In its Thursday after-hours report, Meta revealed fourth-quarter earnings and revenue that exceeded expectations, surpassing Wall Street forecasts for key user metrics such as daily active users and average revenue per user.

The company’s optimistic first-quarter revenue guidance indicates sustained momentum in the current quarter. Meta’s board approved a quarterly dividend of 50 cents per share, payable on March 26 to shareholders recorded as of Feb. 22.

Additionally, the company announced a new repurchase authorization of $50 …

Full story available on Benzinga.com

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