Meta reports Q4 revenue up 25% YoY to $40.1B, net income up 201% YoY to $14B, and family daily active people up 8% YoY to 3.19B for December 2023
Meta Platforms (META Quick Quote META - Free Report) … Salvador Rodriguez / Wall Street Journal : Facebook Parent Meta Initiates Dividend as Growth Continues Jonathan Vanian / CNBC : Mark Zuckerberg says Meta will ‘keep things lean,’ going big in AI with a lid on hiring Financial Times : Big Tech stocks surge after Meta and Amazon results Dan Gallagher / Livemint : Amazon and Meta—Nothing Artificial About These Results Daniel Howley / Yahoo Finance : Meta earnings top estimates as forecast, buyback, and new dividend send shares soaring Tom Jowitt / Silicon UK : Meta Pleases As ‘Year Of Efficiency’ Pays Off With FY23 Results Jonathan Vanian / CNBC : Meta shares jump after profit triples and company announces first-ever dividend Kali Hays / Business Insider : Mark Zuckerberg says Meta may never go back to large-scale hiring as its Year of Efficiency becomes ‘permanent’ Music Ally : Meta financials reveal Threads has 130m monthly active users Jesse Coghlan / Cointelegraph : Meta's Reality Labs sets quarterly revenue record but lost over $4B Mike Wheatley / SiliconANGLE : Meta's operating profit triples as it smashes forecasts, sending its stock up 15% Agence France-Presse : Meta Reports Surge In Profit At End Of 2023 Emily Jarvie / Proactiveinvestors UK : Meta reports another quarterly earnings beat sending shares skyrocketing Mike Isaac / New York Times : Meta Reports Profits More Than Tripled and Issues Its First Dividend Nicola Agius / Search Engine Land : Meta's ad revenue jump 24% in Q4, exceeding expectations Peter Kafka / Business Insider : Meta spent billions to close offices and lay people off. Now we know why. Daniel Howley / Yahoo Finance : Meta beats expectations on earnings and Q1 outlook, boosts share repurchase by $50 billion Derek Saul / Forbes : Meta Earnings: Zuckerberg's ‘Year Of Efficiency’ Nets Greatest Profits Ever Todd Spangler / Yahoo Style : Meta Hits Record Revenue of $40.1 Billion in Q4, as Facebook and Other Apps Now Reach Nearly 4 Billion People Monthly Threads: Mark Zuckerberg / @zuck : You're never as good as they say when you're up, or as bad as they say when you're down. Just keep building and doing good work over long periods of time. Shira Ovide / @shiraovide : Your periodic reminder that Meta (despite the name change) makes nearly all its money from showing you ads on Facebook and Instagram, and Meta remains really really really really really really good at selling ads. Oliver Khan / @oliverk120 : I continue to be surprised that not only are more people using facebook every quarter (even in north america), the users are increasingly becoming MORE active (DAU/MAU as a proxy)... very impressive M.G. Siegler / @mgsiegler : 15 months ago, Meta was trading at $90/share. It's now trading at $450/share in after-hours. Mark Zuckerberg / @zuck : I don't think people appreciate how long-standing of a strategy and approach this has been for us. Soumith Chintala / @soumith : If you have questions about why Meta open-sources its AI, here's a clear answer in Meta's earnings call today from @zuck Kali Hays / @kalihays1 : Mark Zuckerberg just said on the Q4 call that he thinks Meta has a dataset for AI training, text and images from FB and IG etc, “that is greater than the common crawl data set.” *That's wild* Bluesky: Emil Protalinski / @epro.social : $META Q4 2023 — Revenue up 25% to $40.1B — Net income up 201% to $14.0B — Family of Apps revenue up 24% — Reality Labs revenue up 47% — Reality Labs loss up 9% — Family DAP up 8% to 3.19B — Family MAP up 6% to 3.98B — Facebook DAUs up 6% to 2.11B — Facebook MAUs up 6% to 3.07B … X: Rat King / @mikeisaac : god i love hearing analyst questions. last guy basically just said “mark why are you so awesome at running meta” Connor Bates / @connorjbates_ : $META No one wanted it at $90 and now everyone wants it at $450. Probably one of the craziest V-shape recoveries I have seen. [image] Yael Eisenstat / @yaeleisenstat : Watching Meta stock holders—including lots of current and former employees—celebrate their huge stock bump ONE DAY after a hearing where Zuckerberg faced parents of children harmed by his company is...well...everything that's wrong with our current incentive structures. Jason Kint / @jason_kint : Ok, stopping there. My point being sometimes, particularly in the absence of community newspapers, there is a major disconnect between the financial markets, detached tech executives, and the communities they serve. This is absolutely the case here. /12 @aiatmeta : We're building world-class compute infrastructure. By the end of 2024 we'll have ~350k NVIDIA H100s — and a total of 600k H100 equivalents worth of compute. This scale will lay a strong foundation to support training and operating future models. Near / @nearcyan : if facebook switched from ads to a subscription, each american user would need to pay $274/year [image] Near / @nearcyan : American users are worth 3 times as much as European users and 15 times as much as misc users [image] Alex Kantrowitz / @kantrowitz : Wow, Meta is going to stop reporting app monthly and daily active users, and will instead report y/r changes in ad impressions, via @JBoorstin. Sign of the top? Wild. Jason Kint / @jason_kint : The markets' indifference (+15% after hours) to the headlines across America from historic Senate hearing yesterday exposing the covered up child harms of Facebook and Instagram says much about the control of the company, its advertising market power and its burying of risks. /1 [image] @the_ai_investor : Meta soars 12% on beat and solid outlook. Ad impressions increased by 21% Y/Y is outstanding given the size of the company. My guess is AI with $NVDA's GPUs has helped $META to improve its engagements and ad impressions. It's similar to $MSFT Azure cloud where AI increased 6% point boost to the growth. Ricky Singh / @rickysingh89000 : @The_AI_Investor It's in the Nvidia August 23 earnings call , Jensen specifically said Nvidia GPUs caused a 20-30% spike in engagement and impression rate for Meta, remembered that being one of the questions an analyst asked about real world use case examples Naomi Nix / @naominixwrites : Welp, it's clear what wall street and congress care about are very very different. This morning, Mark Zuckerberg was on the front page of multiple newspapers for the Meta's handling of young users. Not, a word about that scrutiny was mentioned during today's earnings call. Near / @nearcyan : “okay but who even uses facebook anymore” 205 million people a day in US & Canada 2.1 billion if you include everyone [image] @richlightshed : Zuck on Apple's new EU app store policies — sounds in-sync with @eldsjal public comments $META $SPOT $AAPL “I would be very surprised if any developer goes to alternative app store...so at odds with intent of EU regulation...Nobody will seriously entertain alternative app stores” Rat King / @mikeisaac : the profit numbers are nuts here and am trying to wrap my head around it but it sounds like the CFO is saying “all our AI stuff we released for ads biz and targeting = mucho lucrative” but in a very low key way Mike Swift / @swiftstories : As @Meta announced another record revenue quarter, CFO Susan Li repeated its regulatory warning that the @FTC move to re-open its 2020 #privacy settlement could have “an adverse impact on our business.” [image] @richlightshed : 10% of $META's advertising revenue in 2023 was from Chinese companies advertising to @meta users around the world (ex-China) 🧐 [screenshot of Free Apps section in App Store: 1 Temu, and 2 Shein] @jamesborow : The craziest thing about $meta is that almost all of their ads are “bought” not sold. It is a self-service auction that moved over $400 million of digital real-estate a day in Q4. Alexei Oreskovic / @lexnfx : Zuckerberg is portraying Meta's walled garden of data as a better asset for AI training than Google's world wide web: The FB and IG corpus of hundreds of billions of images and data is “we estimate greater than the common crawl dataset” Alex Heath / @alexeheath : insane stat from Meta earnings call happening right now: Zuck says Meta estimates its public user data available for AI training is greater than the internet's Common Crawl dataset, which is over 6 PETABYTES Nicholas Brown / @news_by_nick : $META | Meta CFO Susan Li: Co Will Discontinue Reporting Of Facebook Monthly And Daily Active Users - Revenue From China Based Advertisers Represented 10% Of Overall Revenue In 2023 Alex Heath / @alexeheath : quite a whipsaw week for Meta/Zuckerberg, from getting grilled by the senate over kids safety yesterday to a massive earnings beat today with stock up 15% and company valuation now over $1 trillion Tom Hearden / @followtheh : $250 billion in market cap added after hours in $META Conor Sen / @conorsen : Meta was early and aggressive in embracing “year of efficiency"/cost-cutting actions. If they're now through it, maybe a leading indicator for some of the other tech companies still in hiring freeze/layoff mode. Gene Munster / @munster_gene : META's Q1 guidance was 5% higher than the Street at the midpoint. I bet they hit the high end which is a 9% guide up, inline with how the stock is trading in the after market. At the high end, Meta will grow revenue in March at 30%, vs. 25% reported in Dec-23. This is a combination of greater engagement and a solid ad market. Imagine what will happen to Meta's growth once AI kicks in and further increases engagement. Rat King / @mikeisaac : meta laid off 22 percent of its workforce over the past year. meanwhile, profit soared from 4 billion to 14 billion (!) year over year shares spiking like crazy https://www.nytimes.com/... @richlightshed : 🔥🔥 Zuckerberg is in beast mode $META is growing ad revenue faster in Q4 2023 than in Q4 2021 (ex-currency) with revenue growth accelerating from 2% in Q4 2022 to 22% in Q4 2023 [image] Kurt Wagner / @kurtwagner8 : $META earnings are in and they are very good: * Q4 Revenue was a beat * Q1 Revenue guidance was a beat * EPS was a beat * User growth was a beat The stock, which was already near an all-time high, is up almost 12% in after-hours trading [image] See also Mediagazer