Thu, Oct 31, 10:14 AM (63 days ago)
For the third quarter of 2024, Meta Platforms, Inc. (META) reported revenue of $40,589 million, a 19% increase from Q3 2023, primarily driven by a 19% rise in advertising revenue to $39,885 million. The company's net income rose to $15,688 million, yielding diluted earnings per share of $6.03, reflecting strong operational performance. Operating expenses increased to $23,239 million, with costs associated with revenue and R&D rising significantly. The operating margin improved to 43%, up from 40% in the prior year. Cash flows from operations amounted to $63,340 million, bolstered by a substantial cash reserve of $70,900 million as of September 30, 2024. The company faces ongoing regulatory challenges, particularly regarding privacy laws and competition, which could impact future advertising revenue. Additionally, Meta's Reality Labs segment reported a loss of $4,428 million, indicating continued investment in long-term initiatives despite short-term financial pressure. Overall, while quarterly performance shows positive growth trends, uncertainties remain regarding regulatory impacts and market competition.