Facebook (NASDAQ: FB) reported fourth-quarter 2020 financial results after the regular market hours on Wednesday. The social media giant reported fourth-quarter revenue of $28.07 billion, up 33% year-over-year and above the Wall Street projection. Net income of $3.88 per share was also higher than what analysts had anticipated.
FB shares fell 1.5% immediately following the announcement. The stock has gained 25% in the trailing twelve months.
In a statement, Facebook said it expects 2021 capital expenditures to be in the range of $21-23 billion, driven by data centers, servers, network infrastructure, and office facilities.
“We expect 2021 total expenses to be in the range of $68-73 billion, unchanged from our prior outlook. This is driven by investments in technical and product talent as well as continued growth in infrastructure costs,” CFO David Wehner added.
Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for
Warehouse behemoth Costco Wholesale Corporation (NASDAQ: COST) has reported a 15% increase in fourth-quarter 2022 revenues, which translated into double-digit growth in net income. Fourth-quarter revenues increased sharply to $72.09 billion.
Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted