Meta Platforms Inc

ISIN US30303M1027 / Valor 14917609

NASDAQ (2024-11-20)

USD 565.52+0.79%

Meta Platforms Inc
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About company

Meta Platforms Inc., formerly known as Facebook, is a global technology company that has significantly influenced how people connect, communicate, and share information online. Founded in 2004, the company initially launched Facebook, a social networking site that rapidly became a pivotal part of digital social interactions. Over the years, Meta has expanded its portfolio to include other popular social media and messaging apps such as Instagram, WhatsApp, and Messenger, collectively empowering over 3 billion users worldwide. In recent years, Meta has shifted its focus towards the development of immersive technologies, including augmented reality (AR), virtual reality (VR), and mixed reality (MR), aiming to pioneer the next evolution of social technology. This strategic pivot towards creating more immersive digital experiences is encapsulated in its rebranding to Meta and its investment in the metaverse, a collective virtual shared space. The company's business operations now encompass a broad spectrum of products and services designed to facilitate global connectivity, community building, and the advancement of innovative technologies in the AR/VR space.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

In the first quarter of 2024, Meta Platforms Inc. reported a significant increase in revenue, reaching $36.455 billion, which marks a 27% rise from the $28.645 billion recorded in the same quarter of the previous year. This growth highlights the company's strong performance and expanding market reach.

Net Income Surge

Meta Platforms Inc. experienced a substantial increase in net income, which soared by 117% to $12.369 billion in the first quarter of 2024, up from $5.709 billion in the first quarter of 2023. This improvement reflects the company's effective cost management and robust revenue growth.

Earnings Per Share

The diluted earnings per share (EPS) for Meta Platforms Inc. saw a remarkable increase, climbing to $4.71 in the first quarter of 2024, which represents a 114% increase compared to $2.20 in the same quarter of the previous year. This indicates a strong profitability trend for the company.

Operational Highlights

During March 2024, Meta Platforms Inc. reported that its Family daily active people (DAP) reached 3.24 billion, showing a 7% increase year-over-year. Additionally, ad impressions across the Family of Apps grew by 20%, and the average price per ad increased by 6% compared to the previous year.

Future Financial Outlook

Looking ahead to the second quarter of 2024, Meta Platforms Inc. expects total revenue to be in the range of $36.5 to $39 billion. For the full year, the company anticipates total expenses to be between $96 and $99 billion, reflecting increased investments in infrastructure and legal costs. Capital expenditures are projected to be between $35 and $40 billion as the company continues to enhance its AI and Reality Labs initiatives.

Summarized from source with an LLMView Source

Key figures

66.3%1Y

63.8%3Y

186%5Y

Performance

35.5%1Y

49.6%3Y

45.2%5Y

Volatility