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Meta's parent company, Facebook, saw a 17% increase in after-hours trading on Wednesday
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The company exceeded revenue and user growth expectations from Wall Street
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Meta provided positive first quarter guidance and expects lower expenses for the full year
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Although the company brought in 4% less revenue compared to the same quarter the year prior, it was less than investors were expecting
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Meta announced a $40 billion stock buyback
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The company reached 2 billion daily active users across its family of apps for the first time in December
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67% of its total user base of 2.9 billion uses at least one of its apps daily
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The company reported $4.2 billion in restructuring charges for the fourth quarter and expects another $1 billion for the year
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The company is still losing significant amounts of money on its virtual and augmented reality division
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CEO Mark Zuckerberg said Meta will focus on using artificial intelligence to boost its business and become a leader in generative AI
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