META drops 22 earnings
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META drops 22 earnings
Meta Platforms Inc. (META) reported its Q3 2024 earnings on October 30, 20241
. Here are the key highlights:
Revenue: $40.59 billion, up from $34.15 billion the same quarter last year2
.
Net Income: $15.69 billion, compared to $11.58 billion last year2
.
Earnings Per Share (EPS): $6.03, surpassing analysts’ expectations of $5.251
.
Advertising Revenue: $39.89 billion, up 18.6% year-over-year2
.
Reality Labs Segment: Revenue of $270 million, but posted a loss of $4.4 billion1
.
Meta’s CEO, Mark Zuckerberg, highlighted the company’s progress in AI across its apps and business, including strong momentum with Meta AI and AI-powered glasses2
. However, the company also raised its full-year capital expenditures to $38 billion to $40 billion due to increased investments in AI2
.
Would you like to know more about Meta’s future outlook or any specific aspects of their performance?
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