Meta Platforms beats by $0.81, reports revs in-line; guides Q4 revs in-line, lowers high end of FY24 total expense guidance range, raises low end of FY24 capex guidance range (591.80 -1.48)
- Reports Q3 (Sep) earnings of $6.03 per share, $0.81 better than the FactSet Consensus of $5.22; revenues rose 18.9% year/year to $40.59 bln vs the $40.21 bln FactSet Consensus.
- Family daily active people (DAP) -- DAP was 3.29 billion on average for September 2024, an increase of 5% year-over-year.
- Ad impressions -- Ad impressions delivered across our Family of Apps increased by 7% year-over-year.
- Average price per ad -- Average price per ad increased by 11% year-over-year.
- Co issues in-line guidance for Q4, sees Q4 revs of $45.0-$48.0 bln vs. $46.18 bln FactSet Consensus.
- Expects full-year 2024 total expenses to be in the range of $96-98 billion, updated from prior range of $96-99 billion. For Reality Labs, continues to expect 2024 operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and investments to further scale our ecosystem.
- META anticipates full-year 2024 capital expenditures will be in the range of $38-40 billion, updated from prior range of $37-40 billion. META continues to expect significant capital expenditures growth in 2025.