Meta Q4 Earnings
- Gaargi Bora
- Sep 22, 2024
- 1 min read
The Economic Times
Meta Platforms Inc. released successful fourth-quarter results on February 1st, 2024 after a sales jump YoY and a consistent increase of active users.
Financial highlights included revenue of $40.11 billion and $134.90 billion, an increase of 25% and 16% year-over-year for the fourth quarter and full year 2023. Total costs and expenses were $23.73 billion and $88.15 billion for the fourth quarter and full year 2023, a decrease of 8% and an increase of 1% year-over-year.
In December 2023, Meta experienced an increase in daily active users as well as monthly active users, at an increase of 6% YoY and 3% YoY.
The company’s stock price saw a substantial increase following the announcement, likely due to better-than-expected results and the announcement of Meta’s first-ever dividend payment of $0.50 per share of outstanding common stock.
Mark Zuckerberg, Meta founder and CEO, commented on the Q4 2023 earnings, saying, “We had a good quarter as our community and business continue to grow.”
Looking ahead, Meta has outlined a strategic focus on artificial intelligence, integrating AI meaningfully into its family of apps. It involves new hires to support key areas, which reverses the hiring freeze from 2023 and increases capital expenses.
Furthermore, Meta has laid out plans for political advertising in 2024, as some of the world’s biggest democracies are set to hold elections. Meta’s Q4 2023 earnings report demonstrates strong financial performance, and the company’s future plans indicate a commitment to technological innovation. As Meta continues to invest in AI and AR, it will be interesting to see how these developments shape the company’s trajectory in the coming years.
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