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Meta - Meta Reports Fourth Quarter and Full Year 2024 Results
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Meta's 2024 earnings report reveals massive AI investment scale, with $39.23B in capital expenditures and plans to scale further in 2025, directly relevant to understanding frontier AI capabilities development and compute investment trends.
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Summary
Meta's Q4 and full-year 2024 earnings report shows strong financial performance with $164.5B in annual revenue (22% YoY growth) and $62.4B net income (59% YoY growth). The company spent $39.23B in capital expenditures in 2024, largely driven by AI infrastructure investment. CEO Mark Zuckerberg highlighted continued progress on AI, smart glasses, and social media as key priorities for 2025.
Key Points
- •Full-year 2024 revenue reached $164.5B (+22% YoY) with net income of $62.4B (+59% YoY), reflecting strong monetization of AI-driven ad improvements.
- •Capital expenditures of $39.23B in 2024 signal massive AI infrastructure investment, with further scaling planned for 2025.
- •Family daily active people reached 3.35 billion in December 2024, underscoring Meta's scale as an AI deployment platform.
- •Ad impressions grew 11% and average price per ad grew 10% YoY for full-year 2024, partly attributed to AI-driven ad targeting improvements.
- •Free cash flow of $52.1B for 2024 provides substantial resources for continued AI R&D and compute investment.
1 FactBase fact citing this source
| Entity | Property | Value | As Of |
|---|---|---|---|
| Meta AI (FAIR) | parent-revenue | 164.5 billion | 2024 |
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Meta - Meta Reports Fourth Quarter and Full Year 2024 Results
Meta Investor Relations
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Meta Reports Fourth Quarter and Full Year 2024 Results
January 29, 2025
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MENLO PARK, Calif. , Jan. 29, 2025 /PRNewswire/ -- Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter and full year ended December 31, 2024.
"We continue to make good progress on AI, glasses, and the future of social media," said Mark Zuckerberg, Meta founder and CEO. "I'm excited to see these efforts scale further in 2025."
Fourth Quarter and Full Year 2024 Financial Highlights
Three Months Ended December 31,
% Change
Twelve Months Ended December 31,
% Change
In millions, except percentages and
per share amounts
2024
2023
2024
2023
Revenue
$ 48,385
$ 40,111
21 %
$ 164,501
$ 134,902
22 %
Costs and expenses
25,020
23,727
5 %
95,121
88,151
8 %
Income from operations
$ 23,365
$ 16,384
43 %
$ 69,380
$ 46,751
48 %
Operating margin
48 %
41 %
42 %
35 %
Provision for income taxes
$ 2,715
$ 2,791
(3) %
$ 8,303
$ 8,330
— %
Effective tax rate
12 %
17 %
12 %
18 %
Net income
$ 20,838
$ 14,017
49 %
$ 62,360
$ 39,098
59 %
Diluted earnings per share (EPS)
$ 8.02
$ 5.33
50 %
$ 23.86
$ 14.87
60 %
Fourth Quarter and Full Year 2024 Operational and Other Financial Highlights
Family daily active people (DAP) – DAP was 3.35 billion on average for December 2024, an increase of 5% year-over-year.
Ad impressions – Ad impressions delivered across our Family of Apps increased by 6% and 11% year-over-year for the fourth quarter and full year 2024, respectively.
Average price per ad – Average price per ad increased by 14% and 10% year-over-year for the fourth quarter and full year 2024, respectively.
Revenue – Revenue was $48.39 billion and $164.50 billion, representing increases of 21% and 22% year-over-year for the fourth quarter and full year 2024, respectively. Revenue on a constant currency basis would have increased 21% and 23% year-over-year for the fourth quarter and full year 2024, respectively.
Costs and expenses – Total costs and expenses were $25.02 billion and $95.
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