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Sep 30, 2024
Meta Q3 2024 Earnings Report
Meta reported a strong quarter driven by AI advancements and growth across its apps and business.
Key Takeaways
Meta's Q3 2024 earnings showcased significant growth, with revenue reaching $40.59 billion, a 19% increase year-over-year. Net income surged to $15.69 billion, reflecting a 35% rise. The company's focus on AI and immersive experiences is driving momentum.
Revenue increased by 19% year-over-year to $40.59 billion.
Net income grew by 35% year-over-year to $15.69 billion.
Family daily active people (DAP) reached 3.29 billion in September 2024, a 5% increase year-over-year.
Ad impressions across the Family of Apps increased by 7% year-over-year, with average price per ad up by 11%.
Meta
Meta
Meta Revenue by Segment
Revenue by Segment
Family of Apps Revenue
CapyFin.comReality Labs Revenue
CapyFin.com Forward Guidance
Meta expects fourth quarter 2024 total revenue to be in the range of $45-48 billion. Full-year 2024 total expenses are expected to be in the range of $96-98 billion. Full-year 2024 capital expenditures will be in the range of $38-40 billion.
Positive Outlook
- Fourth quarter revenue is expected to be between $45 and $48 billion.
- Foreign currency impact is expected to be neutral to year-over-year revenue growth.
- Full-year 2024 expense guidance updated to $96-98 billion.
- Continued product development efforts and investments to scale the ecosystem.
- Significant capital expenditure growth expected in 2025.
Challenges Ahead
- Reality Labs operating losses are expected to increase meaningfully year-over-year.
- Significant acceleration in infrastructure expense growth expected next year.
- Higher growth in depreciation and operating expenses of expanded infrastructure fleet.
- Active regulatory landscape, including increasing legal and regulatory headwinds in the EU.
- Regulatory headwinds in the U.S. that could significantly impact our business and our financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income