Meta Platforms, Inc. (META) released a profit for fourth quarter that decreased from last year and missed the Street estimates.
The company's bottom line came in at $4.65 billion, or $1.78 per share. This compares with $10.29 billion, or $3.67 per share, in last year's fourth quarter.
Analysts on average had expected the company to earn $2.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 4.5% to $32.17 billion from $33.67 billion last year.
Meta Platforms, Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $4.65 Bln. vs. $10.29 Bln. last year.
-EPS (Q4): $1.78 vs. $3.67 last year.
-Analyst Estimates: $2.22
-Revenue (Q4): $32.17 Bln vs. $33.67 Bln last year.
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