Meta Q1 revenue $36.5B (+27% YoY), EPS $4.71; raises FY capex guidance to $35-40B

Meta Platforms, Inc.

2024-Q1 EPS reported $4.71 revenue$36,455,000,000

Revenue $36.46B (+27% YoY), net income $12.37B (+117%), diluted EPS $4.71 (+114%).
Family daily active people 3.24B (+7% YoY); ad impressions +20%, average price per ad +6%.
FY2024 total expense guidance raised to $96-99B; capex raised to $35-40B to support AI investments.
Q2 revenue guidance $36.5-39B; expect capex to increase in 2025.
Share repurchases $14.64B; free cash flow $12.53B; headcount down 10% YoY to 69,329.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Meta Platforms, Inc. reported the quarter ended March 31, 2024 results: revenue $36,455, net income $12,369, EPS $4.71. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $36,455
Net income: $12,369
EPS: $4.71
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the metaverse as well." First Quarter 2024 Financial Highlights Three Months Ended March 31, % Change In millions, except percentages and per share amounts 2024 2023 Revenue $ 36,455 $ 28,645 27 % Costs and expenses 22,637 21,418 6 % Income from operations $ 13,818 $ 7,227 91 % Operating margin 38 % 25 % Provision for income taxes $ 1,814 $ 1,598 14 %

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Source: SEC EDGAR

accession 0001326801-24-000044

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