Meta Platforms (META) posted robust financial results for the quarter ending December 2024, with revenues hitting $48.39 billion, marking a rise of 20.6% from the previous year. Earnings per share (EPS) soared to $8.02, significantly up from $5.33 in the same period last year.
The reported figures surpassed market expectations, as revenue exceeded the Zacks Consensus Estimate of $46.97 billion by 3.02%, while EPS outpaced forecasts by 20.06%, beating the expected $6.68.
While headline figures such as revenue and earnings are critical for investors assessing a company’s performance and potential reaction in the market, deeper insights often lie in key metrics that reveal the foundation of these numbers.
Analyzing these metrics against previous year figures and comparing them to analyst estimates is essential for investors, as it offers a clearer view of a stock’s future price trajectory and overall market valuation strategy.
In December 2024, the average number of daily active people across the platforms reached 3.35 billion, marking a 5% rise from the previous year.
Meanwhile, ad impressions across the Family of Apps saw an increase of 6% year-over-year in the fourth quarter, with a full year growth of 11%, while the average price per ad rose by 14% in the fourth quarter and by 10% for the entire year of 2024.
Revenues surged to $48.39 billion for the fourth quarter and $164.50 billion for the full year, signifying year-over-year increases of 21% and 22% respectively. Adjusted for constant currency, these figures suggest a growth of 21% and 23% for the respective periods.
Total costs and expenses were reported at $25.02 billion for the fourth quarter and $95.12 billion for the entire year, reflecting year-over-year increments of 5% and 8%. The fourth quarter benefitted from a $1.55 billion favorable impact due to a reduction in accrued losses from certain legal proceedings.
In terms of capital expenditures, including principal payments on finance leases, Meta spent $14.84 billion during the fourth quarter and $39.23 billion over the full year. The capital return program saw no share repurchases of Meta’s Class A common stock in the fourth quarter, yet amounted to $29.75 billion for the year, accompanied by dividend and dividend equivalent payments of $1.27 billion in the fourth quarter and $5.07 billion for the full year.
As of December 31, 2024, cash, cash equivalents, and marketable securities stood at $77.81 billion, with free cash flow totaling $13.15 billion in the fourth quarter and $52.10 billion for the whole year.
Meta noted that its long-term debt was recorded at $28.83 billion, while its headcount increased by 10% year-over-year, reaching 74,067 employees at the end of 2024.
