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Meta Platforms:Quarterly Results/2024 Q2: Difference between revisions
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See also: [https://docs.google.com/spreadsheets/d/1UNG7ddMmZnKZK-Q0ePI1yPcKyutXw05gb3xVpS3jDJ8/edit#gid=0 Sheet:Meta Platforms] | [https://forum.investmentwiki.org/t/q1-2024-meta-earnings/337 Discussions] | [[Meta Platforms:Quarterly Results/2024 Q1]]| [[Meta Platforms:Quarterly Results/2023 Q4]] | [[Earnings Season:2023 Q3]] | [[Meta Platforms:Quarterly Results/2023 Q3]] | [[Meta Platforms:Quarterly Results/2023 Q2]] | See also: [https://docs.google.com/spreadsheets/d/1UNG7ddMmZnKZK-Q0ePI1yPcKyutXw05gb3xVpS3jDJ8/edit#gid=0 Sheet:Meta Platforms] | [https://forum.investmentwiki.org/t/q1-2024-meta-earnings/337 Discussions] | [[Meta Platforms:Quarterly Results/2024 Q1]]| [[Meta Platforms:Quarterly Results/2023 Q4]] | [[Earnings Season:2023 Q3]] | [[Meta Platforms:Quarterly Results/2023 Q3]] | [[Meta Platforms:Quarterly Results/2023 Q2]] | ||
== Earnings Results Summary == | |||
See: [https://s21.q4cdn.com/399680738/files/doc_news/Meta-Reports-Second-Quarter-2024-Results-2024.pdf Q2 2024 Meta Platforms Press Release] | |||
* Meta Q2 2024 revenue rose by 22% y/y to $39.1 billion, in-line with [[Meta Platforms:Quarterly Results/2024 Q2#Management%20expectations|management’s 2]] upper guidance and topping analysts [[Meta Platforms:Quarterly Results/2024 Q2#Analysts%20estimates|estimate]] of $38.3 billion. | |||
* EPS was $5.16 versus analysts estimate of $4.72 while operating margin rose to 38% from 29% a year ago. | |||
* The average Family daily active people (DAP) grew by 7% y/y to 3.27 billion, exceeding analysts estimate of 3.26 billion. | |||
* Meta’s capital expenditures during the quarter were $8.47 billion, lower-than $9.5 billion estimate. | |||
* Meta is guiding Q3 2024 revenue in the range of $38.5-41 billion (analysts estimate: $39.14 billion), reiterating its 2024 total expenses guidance in the range of $96-99 billion and raising its 2024 capex outlook to a range of $37-40 billion (analysts estimate: $38 billion) from $35-40 billion. | |||
* The company said it expects higher expenses and capital expenditure in 2025 compared to 2024 due to higher infrastructure costs. | |||
<blockquote>''“While we do not intend to provide any quantitative guidance for 2025 until the fourth quarter call, we expect infrastructure costs will be a significant driver of expense growth next year as we recognize depreciation and operating costs associated with our expanded infrastructure footprint.”'' | |||
''“While we continue to refine our plans for next year, we currently expect significant capital expenditures growth in 2025 as we invest to support our artificial intelligence research and product development efforts.”''</blockquote> | |||
== Earnings Call and Follow-up Q&A Summary == | == Earnings Call and Follow-up Q&A Summary == | ||