On October 30, 2024, Meta Platforms, Inc. reported its financial results for the third quarter ended September 30, 2024. The company announced a 19% increase in revenue to $40.59 billion compared to the same period in 2023. Net income rose by 35% to $15.68 billion, and diluted earnings per share increased by 37% to $6.03. Daily active people across Meta's family of apps grew by 5% year-over-year to 3.29 billion. The average price per ad increased by 11%, and ad impressions grew by 7%. Capital expenditures were reported at $9.20 billion, while the company repurchased $8.86 billion of its Class A common stock and paid $1.26 billion in dividends and dividend equivalents. Meta's cash, cash equivalents, and marketable securities totaled $70.90 billion as of September 30, 2024. The company's headcount increased by 9% year-over-year to...Show More

On October 30, 2024, Meta Platforms, Inc. reported its financial results for the third quarter ended September 30, 2024. The company announced a 19% increase in revenue to $40.59 billion compared to the same period in 2023. Net income rose by 35% to $15.68 billion, and diluted earnings per share increased by 37% to $6.03. Daily active people across Meta's family of apps grew by 5% year-over-year to 3.29 billion. The average price per ad increased by 11%, and ad impressions grew by 7%. Capital expenditures were reported at $9.20 billion, while the company repurchased $8.86 billion of its Class A common stock and paid $1.26 billion in dividends and dividend equivalents. Meta's cash, cash equivalents, and marketable securities totaled $70.90 billion as of September 30, 2024. The company's headcount increased by 9% year-over-year to 72,404. Looking ahead, Meta expects fourth-quarter 2024 revenue to be between $45-48 billion and has updated its full-year expense guidance to $96-98 billion. The company anticipates significant capital expenditures growth in 2025 and expects its fourth-quarter tax rate to be in the low-teens. Meta also highlighted the potential impact of regulatory challenges in the EU and the U.S. on its business and financial results.