Summary by Moomoo AI
Meta Platforms reported strong Q3 2024 financial results with revenue reaching $40.59 billion, up 19% YoY, driven by AI advancements across its apps and business. Net income rose 35% to $15.69 billion, while operating margin improved to 43%. The company saw a 7% increase in ad impressions and an 11% rise in average price per ad.Daily active users across Meta's family of apps grew 5% YoY to 3.29 billion in September 2024. The company maintained strong capital return, with $8.86 billion in share repurchases and $1.26 billion in dividend payments. Cash and marketable securities stood at $70.90 billion at quarter end.Looking ahead, Meta expects Q4 2024 revenue between $45-48 billion and full-year expenses of $96-98 billion. The company anticipates significant capital expenditure growth in 2025, with 2024 spending projected at $38-40 billion. Reality Labs' operating losses are expected to increase meaningfully as Meta continues investing in product development and ecosystem scaling.
