Meta Platforms, Inc. Reports Fourth Quarter and Full Year 2024 Results

Meta Platforms, Inc., a leading technology company known for its social media platforms and advancements in AI and virtual reality, has released its financial results for the fourth quarter and full year ending December 31, 2024. The report highlights significant growth in revenue and net income, driven by increased ad impressions and higher average prices per ad.

Financial Highlights

Meta reported a revenue of $48.39 billion for Q4 2024, marking a 21% increase from the same period in 2023. For the full year, revenue reached $164.50 billion, up 22% year-over-year. Net income for Q4 2024 was $20.84 billion, a 49% increase from Q4 2023, while full-year net income surged by 59% to $62.36 billion. Diluted earnings per share (EPS) for Q4 2024 were $8.02, a 50% increase from the previous year, and $23.86 for the full year, up 60% year-over-year.

Business and Operational Highlights

Meta's Family of Apps saw a 5% year-over-year increase in daily active people (DAP), reaching 3.35 billion in December 2024. Ad impressions across Meta's platforms grew by 6% in Q4 and 11% for the full year, with the average price per ad increasing by 14% and 10% respectively. The company also reported capital expenditures of $14.84 billion for Q4 and $39.23 billion for the full year, reflecting its ongoing investments in infrastructure and technology.

Strategic Initiatives and Corporate Developments

Meta's capital return program included $29.75 billion in share repurchases and $5.07 billion in total dividend payments for the full year 2024. The company ended the year with $77.81 billion in cash, cash equivalents, and marketable securities, and long-term debt of $28.83 billion. Headcount increased by 10% year-over-year, reaching 74,067 employees as of December 31, 2024.

Management's Perspective

Mark Zuckerberg, Meta's founder and CEO, expressed optimism about the company's progress in AI, augmented reality glasses, and the future of social media. He highlighted the scaling efforts expected in 2025. The CFO's outlook commentary projected Q1 2025 revenue to be between $39.5 billion and $41.8 billion, reflecting 8-15% year-over-year growth. Full-year 2025 expenses are expected to range from $114 billion to $119 billion, driven by infrastructure costs and employee compensation.

Future Outlook

Meta anticipates capital expenditures for 2025 to be between $60 billion and $65 billion, primarily to support generative AI efforts and core business operations. The company expects its full-year 2025 tax rate to be between 12% and 15%, barring any changes in the tax landscape. Meta continues to monitor regulatory developments in the EU and the U.S. that could impact its business and financial results.

SEC Filing: Meta Platforms, Inc. [ META ] - 8-K - Jan. 29, 2025