Meta's fourth-quarter results jumped past Wall Street's expectations thanks to solid advertising revenue, sending shares sharply higher in after-hours trading Wednesday.
The company earned $22.77 billion, or $8.88 per share, in the October-December quarter. That's up 9% from $20.84 billion, or $8.02 per share, in the same period a year earlier.
Revenue grew 24% to $59.89 billion from $48.39 billion.
Analysts, on average, were expecting earnings of $8.21 per share on revenue of $58.5 billion, according to a poll by FactSet.
“Once again, Meta surpassed analysts’ earnings expectations for the quarter, cementing its position as one of the world’s most dominant media companies," said Debra Aho Williamson, chief analyst at Sonata Insights. "Its strong performance provides a solid foundation to continue its massive investments into AI. If there were any signs of revenue shortfall, investors would look at the capital expenditures more negatively.”
Meta's expenses, which the company already warned will be significantly higher this year, grew 40% to $35.15 billion.
For the current quarter, Meta is forecasting revenue in the range of $53.5 billion to $56.5 billion. That's above analysts' forecast of $51.4 billion. For 2026, Meta is forecasting expenses in the range of $162 billion to $169 billion, driven by infrastructure costs and employee compensation, particularly for the artificial intelligence experts it's been hiring at eye-popping pay levels.
Meta had 78,865 employees at the end of the year, an increase of 6% from a year earlier.
Shares of the Menlo Park, California-based company rose $73.15, or 10.9%, to $741.88 in after-hours trading.
FILE -A Meta logo is shown on a video screen at LlamaCon 2025, an AI developer conference, in Menlo Park, Calif., April 29, 2025. (AP Photo/Jeff Chiu, File)
MIAMI (AP) — Paolo Banchero had 31 points and 12 rebounds, Anthony Black scored 26 points and the Orlando Magic beat the Miami Heat 133-124 on Wednesday night to snap a four-game skid.
Desmond Bane finished with 23 points on 10-of-16 shooting and Jalen Suggs scored 16 for the Magic, who are 3-0 against the Heat this season.
Simone Fontecchio scored 23 points in 19 minutes for the Heat. Norman Powell added 22 points and Bam Adebayo had 21.
Franz Wagner (left ankle sprain) missed his fourth straight game for the Magic while Miami was without Tyler Herro (ribs) and Davion Mitchell (shoulder).
The start of the game was delayed by seven minutes because one of the rims was uneven.
The Magic went on a 14-0 run in the fourth quarter and led 121-104 with 5:47 remaining before the Heat rallied and got within 128-122 on Powell’s three-point play with 1:25 left. Banchero and Suggs made two free throws each in the final minute to secure the win.
Orlando finished with 36 assists and shot 16 of 38 from 3-point range.
Down nine at halftime, the Magic outscored the Heat 40-20 in the third period behind 13 points from Banchero and 10 from Black. Orlando forced seven turnovers and had a 7-1 advantage in offensive rebounds in the quarter.
Miami erased a 14-point deficit late in the first quarter and outscored Orlando by 16 in the second to lead 68-59 at the break. Fontecchio scored 14 points, including three 3-pointers, in the second.
Magic: Host Toronto on Friday.
Heat: At Chicago on Thursday in a game rescheduled from Jan. 8, when unplayable court conditions at United Center forced a postponement. It's the first of three games against the Bulls in a four-day span.
AP NBA: https://apnews.com/hub/nba
Orlando Magic forward Jonathan Isaac (1) grabs a rebound after Miami Heat center Kel'el Ware (7) missed the basket during the second half of an NBA basketball game Wednesday, Jan. 28, 2026, in Miami. (AP Photo/Marta Lavandier)
Miami Heat forward Simone Fontecchio (0) is pushed back by Orlando Magic forwards Jonathan Isaac (1) and Tristan da Silva (23) during the second half of an NBA basketball game Wednesday, Jan. 28, 2026, in Miami. (AP Photo/Marta Lavandier)
Miami Heat center Bam Adebayo (13) defends Orlando Magic forward Noah Penda (93) during the first half of an NBA basketball game Wednesday, Jan. 28, 2026, in Miami. (AP Photo/Marta Lavandier)
Orlando Magic guard Desmond Bane (3) looks to pass the ball as Miami Heat guard Dru Smith (12) defends during the second half of an NBA basketball game Wednesday, Jan. 28, 2026, in Miami. (AP Photo/Marta Lavandier)
Orlando Magic forward Paolo Banchero (5) drives to the basket as Miami Heat forward Jaime Jaquez Jr. (11) defends during the first half of an NBA basketball game Wednesday, Jan. 28, 2026, in Miami. (AP Photo/Marta Lavandier)
