Sabela Ojea

Meta Platforms Inc. on Wednesday beat revenue expectations for its latest quarter and reported improving conditions that point to signs of recovery for the social-media giant, which has weathered privacy restrictions and growing competition from rival TikTok. Meta's board also authorized a $40 billion increase to its stock buyback program. Shares jumped 20% in after-hours trading.

Tenax Therapeutics Inc. said it received a notice of allowance from the U.S. Patent and Trademark Office for its patent application, which covers "the use of IV levosimendan in the treatment of pulmonary hypertension with heart failure with preserved ejection fraction." Shares of the biotech surged 81% in after-hours trading.

Align Technology Inc. reported fourth-quarter results that topped Wall Street estimates. Shares of the maker of Invisalign braces climbed 17% in after-hours trading.

ProSomnus Inc. reported a double-digit boost to its full-year revenue. Shares of the sleep apnea mouthpiece maker increased 17% in after-hours trading.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 01, 2023 19:08 ET (00:08 GMT)

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