Unlike most of its big tech peers, Meta Platforms (NASDAQ: META) stock soared on its recent earnings report.

The Facebook parent didn't turn in particularly strong numbers. Revenue in the quarter fell 4% to $32.2 billion, and earnings per share plunged 52% to $1.76, though adjusting for restructuring charges, earnings per share were down 18% to $3, which was better than estimates. 

Looking ahead to the first quarter, the company expects another modest decline in revenue, a sign of the macroeconomic headwinds in the ad market and its decision to ramp up its short-form video product, Reels, which monetizes at a lower rate than other "surfaces" like news feed and stories.

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Source Fool.com