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Jun 30, 2024
Meta Q2 2024 Earnings Report
Meta's Q2 2024 earnings showcased strong financial performance and strategic advancements.
Key Takeaways
Meta reported a strong quarter with a 22% increase in revenue year-over-year, reaching $39.07 billion. Net income increased by 73% to $13.465 billion, and diluted EPS also increased by 73% to $5.16. The company continues to invest in AI and Reality Labs while driving growth across its apps.
Revenue increased by 22% year-over-year to $39.07 billion.
Net income increased by 73% year-over-year to $13.465 billion.
Diluted EPS increased by 73% year-over-year to $5.16.
Family daily active people (DAP) reached 3.27 billion on average for June 2024, a 7% increase year-over-year.
Meta
Meta
Meta Revenue by Segment
Revenue by Segment
Family of Apps Revenue
CapyFin.comReality Labs Revenue
CapyFin.com Forward Guidance
Meta expects Q3 2024 total revenue to be in the range of $38.5-41 billion. Full-year 2024 total expenses are expected to be in the range of $96-99 billion. Full-year 2024 capital expenditures are expected to be in the range of $37-40 billion. The full-year 2024 tax rate is expected to be in the mid-teens.
Positive Outlook
- Q3 2024 total revenue is expected to be in the range of $38.5-41 billion.
- Full-year 2024 total expenses outlook unchanged from prior outlook.
- Expects Meta AI to be the most used AI assistant in the world by the end of the year.
- Good traction with Ray-Ban Meta AI glasses.
- Driving good growth across apps.
Challenges Ahead
- Foreign currency is expected to be a 2% headwind to year-over-year total revenue growth.
- Reality Labs operating losses are expected to increase meaningfully year-over-year.
- Infrastructure costs will be a significant driver of expense growth next year.
- Expects significant capital expenditures growth in 2025.
- Monitoring an active regulatory landscape, including increasing legal and regulatory headwinds in the EU and the U.S.
Revenue & Expenses
Visualization of income flow from segment revenue to net income