Meta Reports Strong Q4 Earnings, Forecasts Slower Growth
Key Metrics:
* Q4 revenue: $48.4 billion, beating estimates of $46.9 billion
* Q4 EPS: $8.02, exceeding projections of $6.75
* Full-year 2023 net income: $62.4 billion, a 59% surge
Outlook:
* Q1 revenue projected between $39.5 billion and $41.8 billion, indicating 8%-15% growth year-over-year
* 2025 expenses forecasted in the range of $114 billion-$119 billion, primarily driven by infrastructure costs and employee compensation
Investment Plans:
* Meta plans to invest $60-$65 billion in AI infrastructure projects in 2024
* The company's AI focus includes glasses, the future of social media, generative AI, and compliance
Other Highlights:
* Meta resolved a $25 million lawsuit with former President Trump over his platform suspension
* CEO Mark Zuckerberg expressed excitement about Meta's advancements in AI and social media innovations