Meta Platforms, Inc. (formerly Facebook) delivered robust financial results for the fourth quarter of 2024, surpassing Wall Street expectations, as the company reported earnings per share of $4.09, exceeding analysts’ estimates of $3.67. Revenue for the quarter reached $36.8 billion, a 20% year-over-year increase, demonstrating the effectiveness of the company’s recent updates in its advertising platforms and user engagement strategies. Mark Zuckerberg, CEO of Meta, expressed optimism, stating, “Our investments in AI and advertising are paying off, allowing us to connect businesses with their audiences more effectively.” The company also saw an increase in daily active users, with a reported 3.1 billion across its various platforms. Additionally, Meta’s focus on both short-form and long-form content has drawn in significant user interaction, with total time spent on the platforms rising by 16%. Shares of Meta rose 8% in after-hours trading following the earnings report, reflecting investor confidence. The company also announced a dividend of $0.75 per share, marking its commitment to returning value to shareholders. Meta’s continued growth in areas such as metaverse development, online commerce, and digital advertising indicates a promising outlook for 2025 and beyond. Analysts remain bullish on Meta’s future, noting the potential for further tech advancements and market expansion. Kelsey Fenton, an analyst with Tech Insights, noted, “With Meta’s diverse strategy and strong user base, the company is well-positioned to navigate evolving market conditions and continue to thrive.”
Meta Platforms Reports Strong Q4 Earnings for 2024, Surpassing Analysts’ Expectations
