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US EARNINGS: Meta Reported Strong Results, Revenue Forecast Misses

US EARNINGS
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  • Meta reported strong Q4 2024 results, with revenue of $48.39B (+21% YoY), beating estimates of $46.98B. Advertising revenue grew 21% YoY to $46.78B, while Reality Labs revenue was $1.08B, slightly below estimates. Daily active users reached 3.35B (+5% YoY) Operating income surged to $23.37B, far exceeding expectations of $20.09B, with an operating margin of 48% (vs. 41% YoY). EPS came in at $8.02, well above the $6.78 consensus.
  • However, Meta's Q1 2025 revenue forecast of $39.5B-$41.8B (midpoint $40.65B) disappointed, falling short of the $41.67B consensus partly due to FX headwinds (-3%) and raising concerns about the pace of digital ad growth amid heavy AI and metaverse investments. The company projects 2025 expenses at $114B-$119B (above the $108B estimate) and CapEx of $60B-$65B, reflecting heavy AI infrastructure investments.
  • Reality Labs posted a $4.97B operating loss, underscoring continued struggles in its metaverse division. Meta emphasized AI advancements, open-source opportunities, and regulatory risks in the U.S. and EU. The stock dipped ~1% after hours on the weaker guidance, however now trades up almost 2% ahead of its earnings call.
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  • Meta reported strong Q4 2024 results, with revenue of $48.39B (+21% YoY), beating estimates of $46.98B. Advertising revenue grew 21% YoY to $46.78B, while Reality Labs revenue was $1.08B, slightly below estimates. Daily active users reached 3.35B (+5% YoY) Operating income surged to $23.37B, far exceeding expectations of $20.09B, with an operating margin of 48% (vs. 41% YoY). EPS came in at $8.02, well above the $6.78 consensus.
  • However, Meta's Q1 2025 revenue forecast of $39.5B-$41.8B (midpoint $40.65B) disappointed, falling short of the $41.67B consensus partly due to FX headwinds (-3%) and raising concerns about the pace of digital ad growth amid heavy AI and metaverse investments. The company projects 2025 expenses at $114B-$119B (above the $108B estimate) and CapEx of $60B-$65B, reflecting heavy AI infrastructure investments.
  • Reality Labs posted a $4.97B operating loss, underscoring continued struggles in its metaverse division. Meta emphasized AI advancements, open-source opportunities, and regulatory risks in the U.S. and EU. The stock dipped ~1% after hours on the weaker guidance, however now trades up almost 2% ahead of its earnings call.