Meta Platforms reported robust third quarter 2024 financial results, with revenue rising 19% year-over-year to $40.6 billion and net income surging 35% to $15.7 billion. The company's advertising revenue grew 19% to $39.9 billion, driven by a 7% increase in ad impressions and an 11% rise in average price per ad. Family daily active people (DAP) reached 3.29 billion in September 2024, up 5% year-over-year.The company's Family of Apps segment, including Facebook and Instagram, generated $40.3 billion in revenue and $21.8 billion in operating income. Reality Labs, focused on metaverse initiatives, posted revenue of $270 million but recorded an operating loss of $4.4 billion. Meta maintained strong operational efficiency with a 43% operating margin, up from 40% in the prior year.Looking ahead, Meta continues to invest heavily in artificial intelligence initiatives while expanding its infrastructure. The company declared a quarterly cash dividend of $0.50 per share and repurchased $8.9 billion of shares during Q3. Capital expenditures are expected to reach $38-40 billion in 2024, with Reality Labs operating losses projected to increase meaningfully.

Meta Platforms reported robust third quarter 2024 financial results, with revenue rising 19% year-over-year to $40.6 billion and net income surging 35% to $15.7 billion. The company's advertising revenue grew 19% to $39.9 billion, driven by a 7% increase in ad impressions and an 11% rise in average price per ad. Family daily active people (DAP) reached 3.29 billion in September 2024, up 5% year-over-year.The company's Family of Apps segment, including Facebook and Instagram, generated $40.3 billion in revenue and $21.8 billion in operating income. Reality Labs, focused on metaverse initiatives, posted revenue of $270 million but recorded an operating loss of $4.4 billion. Meta maintained strong operational efficiency with a 43% operating margin, up from 40% in the prior year.Looking ahead, Meta continues to invest heavily in artificial intelligence initiatives while expanding its infrastructure. The company declared a quarterly cash dividend of $0.50 per share and repurchased $8.9 billion of shares during Q3. Capital expenditures are expected to reach $38-40 billion in 2024, with Reality Labs operating losses projected to increase meaningfully.