Meta (META) Q4 Earnings Beat Expectations
Meta Platforms, Inc. (META) reported its fourth-quarter 2023 earnings on Wednesday, surpassing analysts' estimates.
Key Metrics:
* EPS: $8.02 (est. $6.75)
* Revenue: $48.4 billion (est. $46.9 billion)
* Net income: $62.4 billion (up 59% YoY)
* Q1 2024 Revenue Guidance: $39.5-$41.8 billion (8-15% YoY growth)
Financial Highlights:
* Meta's revenue grew 21% YoY in Q4, driven by Reality Labs.
* Full-year 2023 revenue reached $164.5 billion, a 22% increase.
Guidance and Outlook:
Meta declined to provide a full-year 2024 revenue forecast but indicated continued investment in its core business for sustained revenue growth.
Expense Growth:
* Meta's expenses are projected to increase in 2025, with infrastructure costs and employee compensation as key drivers.
* CFO Susan Li estimates expenses between $114 billion-$119 billion in 2025, up from $95.1 billion in 2024.
AI and Innovation:
* Meta continues to emphasize AI and virtual reality development.
* CEO Mark Zuckerberg announced plans to invest $60-$65 billion in AI infrastructure in 2024, including a massive data center in Manhattan.
Regulatory Update:
* Meta settled a lawsuit with former President Trump for $25 million regarding his platform suspension in 2021.