NASDAQ$META
Meta Platforms Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Meta's Q1 2024 earnings showcased robust growth, driven by strong performance in its Family of Apps and advancements in AI and Reality Labs initiatives.
Meta reported a strong first quarter in 2024, with revenue increasing by 27% year-over-year to $36.46 billion. Net income saw a significant rise of 117% to $12.37 billion, and diluted EPS reached $4.71. The company is experiencing healthy growth across its apps and continues to invest in AI and metaverse technologies.
- Family daily active people (DAP) reached 3.24 billion in March 2024, a 7% increase year-over-year.
- Ad impressions across the Family of Apps increased by 20% year-over-year.
- Average price per ad increased by 6% year-over-year.
- Total revenue increased by 27% year-over-year to $36.46 billion.
Headline financials
Revenue & EPS history
Meta · Revenue · Quarterly
$36.5B
Revenue by segment
Meta · $34.1B total across 2 segments · Q3 2023
- Family of Apps$33.9B+23.7%99.4%
- Reality Labs$210M-26.3%0.6%
Forward guidance
Meta expects second quarter 2024 total revenue to be in the range of $36.5-39 billion. Full-year 2024 total expenses are expected to be in the range of $96-99 billion, and capital expenditures are anticipated to be in the range of $35-40 billion. Operating losses for Reality Labs are expected to increase meaningfully year-over-year.
Tailwinds
- Second quarter 2024 total revenue is expected to be in the range of $36.5-39 billion.
- Strong momentum within our Family of Apps.
- Making important progress on our longer-term AI initiatives.
- Making important progress on Reality Labs initiatives.
- Q1 was a good start to the year.
Headwinds
- Foreign currency is a 1% headwind to year-over-year total revenue growth.
- Full-year 2024 total expenses are expected to be in the range of $96-99 billion, updated from our prior outlook of $94-99 billion due to higher infrastructure and legal costs.
- Operating losses for Reality Labs are expected to increase meaningfully year-over-year.
- Full-year 2024 capital expenditures will be in the range of $35-40 billion, increased from our prior range of $30-37 billion.
- Increasing legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.9%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+2.0%
Avg return
30 days after
58%
35 / 60 earnings
Positive
+31.5%
Q2 2013
Best reaction
-28.8%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | -9.6% | -5.5% | |
| Q4 2025 | +1.2% | +3.4% | -3.1% | |
| Q3 2025 | -2.4% | -16.5% | -13.8% | |
| Q2 2025 | +2.3% | +9.8% | +6.3% | |
| Q1 2025 | +4.2% | +7.0% | +17.9% | |
| Q4 2024 | +1.6% | +4.1% | -1.2% | |
| Q3 2024 | -4.3% | -5.5% | -3.2% | |
| Q2 2024 | +7.5% | +2.7% | +12.5% | |
| Q1 2024 | -11.0% | -12.8% | -3.6% | |
| Q4 2023 | +21.7% | +16.6% | +28.7% | |
| Q3 2023 | -7.7% | -3.2% | +8.2% | |
| Q2 2023 | +5.9% | +8.2% | -3.0% | |
| Q1 2023 | +14.9% | +17.2% | +26.3% | |
| Q4 2022 | +26.7% | +24.9% | +24.4% | |
| Q3 2022 | -28.8% | -32.3% | -19.0% | |
| Q2 2022 | +1.0% | +0.5% | +1.7% | |
| Q1 2022 | +13.7% | +16.7% | +7.8% | |
| Q4 2021 | -25.5% | -29.5% | -37.3% | |
| Q3 2021 | -2.7% | -0.3% | +5.1% | |
| Q2 2021 | -2.6% | -4.3% | +1.3% | |
| Q1 2021 | +8.5% | +6.3% | +8.3% | |
| Q4 2020 | -6.0% | -7.1% | -8.7% | |
| Q3 2020 | -1.7% | -0.9% | +3.8% | |
| Q2 2020 | +8.7% | +7.1% | +25.9% | |
| Q1 2020 | +11.9% | +12.2% | +23.1% | |
| Q4 2019 | -3.8% | -6.2% | -11.6% | |
| Q3 2019 | +1.2% | +2.9% | +6.5% | |
| Q2 2019 | -0.8% | -3.2% | -12.2% | |
| Q1 2019 | +5.2% | +6.0% | -1.5% | |
| Q4 2018 | +15.6% | +17.4% | +12.5% | |
| Q3 2018 | +6.8% | +5.8% | -2.4% | |
| Q2 2018 | -17.9% | -20.3% | -18.6% | |
| Q1 2018 | +9.1% | +7.7% | +15.8% | |
| Q4 2017 | +3.2% | -3.1% | -5.6% | |
| Q3 2017 | -0.6% | +0.1% | -2.8% | |
| Q2 2017 | +3.1% | +2.4% | +0.6% | |
| Q1 2017 | -1.3% | -1.1% | +0.5% | |
| Q4 2016 | +0.4% | +1.3% | +5.3% | |
| Q3 2016 | -7.3% | -5.7% | -10.9% | |
| Q2 2016 | +3.1% | +2.5% | +3.1% | |
| Q1 2016 | +7.3% | — | — | |
| Q4 2015 | +12.1% | — | — | |
| Q3 2015 | +6.0% | — | — | |
| Q2 2015 | -0.1% | — | — | |
| Q1 2015 | -1.4% | — | — | |
| Q4 2014 | +2.9% | — | — | |
| Q3 2014 | -5.5% | — | — | |
| Q2 2014 | +8.2% | — | — | |
| Q1 2014 | -3.4% | — | — | |
| Q4 2013 | +10.8% | — | — | |
| Q3 2013 | +1.6% | — | — | |
| Q2 2013 | +31.5% | — | — | |
| Q1 2013 | +4.3% | — | — | |
| Q4 2010 | -9.3% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2011 | +15.7% | — | — | |
| Q3 2012 | +20.2% | — | — | |
| Q2 2011 | -9.8% | — | — | |
| Q4 2011 | -9.8% | — | — | |
| Q2 2012 | -19.2% | — | — | |
| Q1 2012 | — | — | — |
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