Meta posts stronger-than-expected Q4 results though costs continue to soar

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.