Meta Platforms reported stronger-than-expected earnings for the fourth quarter on Wednesday, driven by a surge in digital advertising sales. The company, formerly known as Facebook, said revenue rose 21% to $33.7 billion, beating estimates of $32.6 billion. Meta’s net income came in at $11.2 billion, or $3.61 a share, compared with $9.1 billion, or $2.97 a share, a year earlier. The social media giant’s ad revenue grew 25% to $31.9 billion, as businesses continued to increase their spending on digital ads to reach consumers online. Meta’s stock rose 4% in after-hours trading.
