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Sep 30, 2023
Meta Q3 2023 Earnings Report
Meta reported financial results for the quarter ended September 30, 2023.
Key Takeaways
Meta's Q3 2023 earnings revealed a strong performance with a 23% increase in revenue year-over-year, reaching $34.15 billion. Net income soared by 164% to $11.58 billion, and diluted EPS increased by 168% to $4.39. The company also saw growth in daily and monthly active users across its Family of Apps and Facebook.
Revenue increased by 23% year-over-year to $34.15 billion.
Net income increased by 164% year-over-year to $11.58 billion.
Diluted earnings per share (EPS) increased by 168% year-over-year to $4.39.
Ad impressions delivered across the Family of Apps increased by 31% year-over-year.
Revenue by Segment
Forward Guidance
Meta expects fourth quarter 2023 total revenue to be in the range of $36.5-40 billion. Full-year 2023 total expenses are expected to be in the range of $87-89 billion. Full-year 2024 total expenses to be in the range of $94-99 billion.
Positive Outlook
- Expects fourth quarter 2023 total revenue to be in the range of $36.5-40 billion.
- Guidance assumes a foreign currency tailwind of approximately 2% to year-over-year total revenue growth in the fourth quarter.
- Anticipates full-year 2023 total expenses will be in the range of $87-89 billion, lowered from prior range.
- Expects 2023 capital expenditures to be in the range of $27-29 billion, updated from prior estimate.
- Expects fourth quarter 2023 and full-year 2024 tax rates to be similar to the third quarter of 2023.
Challenges Ahead
- Expects Reality Labs operating losses to increase year-over-year in 2023.
- Expects full-year 2024 total expenses to be in the range of $94-99 billion.
- Expects depreciation expenses in 2024 to increase by a larger amount than in 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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