Meta Q4 2023 Earnings Report
Key Takeaways
Meta reported a strong fourth quarter and full year 2023, with revenue increasing by 25% year-over-year to $40.11 billion. Net income saw substantial growth, reaching $14.02 billion, and diluted EPS increased to $5.33. The company also initiated a quarterly dividend of $0.50 per share.
Revenue increased by 25% year-over-year, reaching $40.11 billion.
Net income grew significantly to $14.02 billion, a 201% increase year-over-year.
Diluted earnings per share (EPS) increased to $5.33, up 203% year-over-year.
Meta initiated a quarterly dividend of $0.50 per share.
Meta
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Meta Revenue by Segment
Forward Guidance
Meta expects first quarter 2024 total revenue to be in the range of $34.5-37 billion. Full-year 2024 total expenses are expected to be in the range of $94-99 billion. Full-year 2024 capital expenditures will be in the range of $30-37 billion.
Positive Outlook
- Expects first quarter 2024 total revenue to be in the range of $34.5-37 billion.
- Guidance assumes foreign currency is neutral to year-over-year total revenue growth.
- Expects higher infrastructure-related costs this year.
- Anticipate growth in payroll expenses as we work down our current hiring underrun.
- Expect full-year 2024 tax rate to be in the mid-teens.
Challenges Ahead
- Expect operating losses for Reality Labs to increase meaningfully year-over-year.
- Growth will be driven by investments in servers, including both AI and non-AI hardware, and data centers.
- Ambitious long-term AI research and product development efforts will require growing infrastructure investments beyond this year.
- The Federal Trade Commission is seeking to substantially modify our existing consent order.
- Increasing legal and regulatory headwinds in the EU and 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