August 1, 2024 - $Meta Platforms (META.US)$shares jumped 6.51% to $505.74 in pre-market trading on Thursday. The company has reported financial results for the quarter ended June 30, 2024.

 Second Quarter 2024 Operational and Other Financial Highlights

• Family daily active people (DAP) – DAP was 3.27 billion on average for June 2024, an increase of 7% year-over-year.

• Ad impressions – Ad impressions delivered across our Family of Apps increased by 10% year-over-year.

• Average price per ad – Average price per ad increased by 10% year-over-year.

• Revenue – Total revenue was $39.07 billion, an increase of 22% year-over-year. Revenue on a constant currency basis would have increased 23% year-over-year.

• Capital return program – Share repurchases were $6.32 billion of our Class A common stock and dividend payments were $1.27 billion.

• Headcount – Headcount was 70,799 as of June 30, 2024, a decrease of 1% year-over-year.

Q3 Outlook

• Meta expect third quarter 2024 total revenue to be in the range of $38.5-41 billion. the company's guidance assumes foreign currency is a 2% headwind to year-over-year total revenue growth, based on current exchange rates.

"We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year," said Mark Zuckerberg, Meta founder and CEO. "We've released the first frontier-level open source AI model, we continue to see good traction with our Ray-Ban Meta AI glasses, and we're driving good growth across our apps."