Meta Platforms, known for its social media and technology services, reported a robust financial performance for the year ended December 31, 2023. The company's total revenue reached $134.90 billion, marking a 16% increase from the previous year, primarily driven by a surge in advertising revenue. Operating income saw a significant jump to $46.75 billion, a 62% rise compared to 2022, while net income stood at $39.10 billion. Diluted earnings per share (EPS) were reported at $14.87. The Family of Apps segment, which includes Facebook, Instagram, Messenger, and WhatsApp, contributed $133.006 billion in revenue, a 16% increase, while the Reality Labs segment faced a 12% decline, earning $1.896 billion. The company's user metrics also showed positive trends, with Family daily active people (DAP) reaching 3.19 billion, an 8% year-over-year growth, and Family...Show More

Meta Platforms, known for its social media and technology services, reported a robust financial performance for the year ended December 31, 2023. The company's total revenue reached $134.90 billion, marking a 16% increase from the previous year, primarily driven by a surge in advertising revenue. Operating income saw a significant jump to $46.75 billion, a 62% rise compared to 2022, while net income stood at $39.10 billion. Diluted earnings per share (EPS) were reported at $14.87. The Family of Apps segment, which includes Facebook, Instagram, Messenger, and WhatsApp, contributed $133.006 billion in revenue, a 16% increase, while the Reality Labs segment faced a 12% decline, earning $1.896 billion. The company's user metrics also showed positive trends, with Family daily active people (DAP) reaching 3.19 billion, an 8% year-over-year growth, and Family monthly active people (MAP) growing to 3.98 billion, a 6% increase. Despite these gains, the company noted a decrease in the average price per ad by 9%, offset by a 28% increase in ad impressions delivered. Meta Platforms also announced the initiation of its first-ever cash dividend program, declaring a dividend of $0.50 per share, equivalent to $2.00 annually, to be paid on March 26, 2024. The company completed several restructuring measures, including data center initiatives and employee layoffs, aiming for greater efficiency and alignment with strategic priorities. Looking ahead, Meta Platforms is focused on investing in artificial intelligence, including generative AI, to enhance ad delivery, targeting, and measurement capabilities. The company also plans to continue developing its metaverse efforts, expecting Reality Labs operating losses to increase in 2024.