Mark Zuckerberg is so happy with his "12 months of performance" that he has decided to extend it indefinitely.

On Thursday's earnings, after Meta found out fourth-area monetary results that exceeded analysts' expectations, Zuckerberg stated that he desires to "preserve things lean" and has no plans to boom hiring.

Headcount, which peaked at more than 86,000 in 2022, fell 22% closing year to sixty seven,317 as Meta carried out massive fee cuts to reassure buyers who had lost faith inside the organization's capability to evolve to changing marketplace situations.

Exactly a year ago, in an profits call, Zuckerberg stated that management's awareness for 2023 will be the "year of performance," and that Meta becomes a "more potent and more nimble enterprise."

Wall Street has rewarded him ever on account of that. Last year, the inventory nearly tripled in price, ranking as the S&P 500's 2d-first-rate performer, after handiest Nvidia. It set a document for the final month, and the ongoing climb has taken Meta's market capitalization a ways past $1 trillion.

Meta announced on Thursday that fourth-quarter revenues increased by 25% to $40.1 billion, the greatest rate of growth since mid-2021. Net income increased by 201% to $14 billion, and the company's operating margin more than doubled to 41 percent. The stock rose 15% in extended trade.

Add it all together, and Meta demonstrates that it can grow at a healthy rate while substantially reducing costs, which fell 8% from a year ago. The business is so secure in its financial health that it authorized a $50 billion share repurchase and, for the first time, declared a quarterly dividend of 50 cents.

'Even after 2024'

According to Meta, general spending for the year would vary between $94 billion to $99 billion, up from $88.15 billion in 2023. Finance chief Susan Li said that capital expenses might be among $30 billion and $37 billion, "a $2 billion increase from the high stop of our previous range."

But when it comes to hiring, Zuckerberg says the days of hypergrowth are over. Meta plans to hire for high-paying technical posts this year, but Zuckerberg stated that the rise in personnel will be "relatively minimal" compared to previous years.