Meta Platforms beats by $1.26, beats on revs; guides Q1 revs in-line, reiterates FY25 capex guidance (676.49 +2.16)
- Reports Q4 (Dec) earnings of $8.02 per share, $1.26 better than the FactSet Consensus of $6.76; revenues rose 20.6% year/year to $48.38 bln vs the $46.99 bln FactSet Consensus.
- Family daily active people (DAP) -- DAP was 3.35 billion on average for December 2024, an increase of 5% year-over-year.
- Ad impressions -- Ad impressions delivered across our Family of Apps increased by 6% and 11% year-over-year for the fourth quarter and full year 2024, respectively.
- Average price per ad -- Average price per ad increased by 14% and 10% year-over-year for the fourth quarter and full year 2024, respectively.
- Co issues in-line guidance for Q1, sees Q1 revs of $39.5-$41.8 bln vs. $41.68 bln FactSet Consensus. While company is not providing a full year 2025 revenue outlook, expects the investments we are making in core business this year will give an opportunity to continue delivering strong revenue growth throughout 2025.
- FY25 Guidance: Expect full year 2025 total expenses to be in the range of $114-119 billion. Expects the single largest driver of expense growth in 2025 to be infrastructure costs, driven by higher operating expenses and depreciation. Anticipates capital expenditures will be in the range of $60-65 billion, in-line with recent guidance from January 24. Expects capital expenditures growth in 2025 will be driven by increased investment to support both our generative AI efforts and core business.