Daily active users on Facebook hit 2 billion during December, and the company saw its shares rise in after-hours trading after it posted earnings results.
$1.88 billion of those restructuring costs were the result of Meta’s decision to downsize its offices by either terminating agreements early, abandoning office buildings under operating leases or subleasing those facilities. Severance and personnel costs accounted for $975 million of the total $4.2 billion figure.
Despite the financial declines, Meta stock rose in after-hours trading by roughly 18 percent after the company reported earnings, perhaps buoyed by Meta’s continued growth for its flagship site
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