Meta on Thursday reported a 25 percent increase in quarterly revenue while profit more than tripled, a rise fueled by its ads business after a shaky 18 months of layoffs and a rocky digital advertising market.

The Silicon Valley company, which owns Facebook, Instagram and WhatsApp, also said it would issue its first dividend, of 50 cents a share. Dividends are typically associated with mature and slower-growth companies. Meta made the announcement as it spends heavily on capital investments, such as data centers and other infrastructure. The company also authorized an additional $50 billion in share buybacks.

“We had a good quarter as our community and business continue to grow,” said Mark Zuckerberg, Meta’s founder and chief executive. “We’ve made a lot of progress on our vision for advancing A.I. and the metaverse.”

For the three months ended Dec. 31, Meta’s revenue was $40.1 billion, up from $32.2 billion a year ago and exceeding Wall Street estimates of $39 billion, according to data compiled by FactSet. Profit was $14 billion, up from $4.65 billion a year earlier.

The company benefited from a continued rebound in digital ads, though marketers remain cautious about where they allocate their advertising budgets. On Tuesday, Google reported search revenue and a profit margin for its latest quarter that fell short of Wall Street expectations because of modest advertising growth.

Meta has undergone a tumultuous few years as the global economy shifted and wobbled the online ad markets. The company has also faced scrutiny for privacy issues and the spread of misinformation and toxic content on its platforms.