February 24, 2024
London, UK

Meta Platforms (META) Fourth Quarter Earnings

META Q3 Earnings

Meta Platforms (META) reported fourth-quarter earnings with revenue beating the expectations. Here are the key points:

Meta earnings per share came at $1.76 well below the forecasts of $2.26.

The revenue came at $32.17 billion above the expectations of $31.53 billion.

Daily Active Users (DAUs) were 2 billion slightly higher than the 1.99 billion expected.

Monthly Active Users (MAUs) were at 2.96 billion.

Family DAP and MAP are on the rise with a YoY increase of 5% and 4% respectively.

Meta’s Reality Labs unit recorded a $4.28 billion loss in Q4.

The company also announced a $40 billion buyback. Meta bought back $28B stock during 2022 (8.2% of float).

The company now sees capital expenditures to be in the range of $30-33 billion, lowered from the prior estimate of $34-37 billion.

Meta expects revenue between $26 billion and $28.5 billion, compared with analysts average estimates of $27.14 billion.

Mark Zuckerberg says AI has helped advertisers achieve 20% more conversions leading to a higher return on AD spend.

Yesterday, LightShed Partners initiated Meta Platforms at Buy and a price target of $200. Jefferies on January 30 reiterated META at Buy and raised the price target from $155 to $175.

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