Meta Platforms Inc.
Meta Platforms Reports Strong Q3 2024 Financial Results with 19% Revenue Growth
Summary
Meta Platforms, Inc. reported robust financial results for Q3 2024, with total revenue of $40.59 billion, a 19% increase year-over-year. The company reported a net income of $15.69 billion, up 35% from the prior year. Diluted earnings per share (EPS) reached $6.03, significantly higher than the $4.39 reported in Q3 2023. Meta's operating margin improved to 43%, reflecting strong operational efficiency. The company's financial strength is also highlighted by its cash, cash equivalents, and marketable securities totaling $70.90 billion as of September 30, 2024. Meta anticipates continued growth, guiding for Q4 2024 total revenue in the range of $45-48 billion.
Profitelligence Alerts
Get alerts for META
Be first to know when Meta Platforms Inc. files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Meta Platforms Inc.
Meta Platforms Inc., commonly known as Meta, is a leading technology conglomerate focused on building integrated social media and technology solutions. The company owns and operates several pivotal platforms such as Facebook, Instagram, WhatsApp, and Oculus, which serve billions of users globally, making it a cornerstone in the digital communication and social networking industries. Meta is renowned for its continuous innovation in connecting people and businesses through its expansive suite of applications and services. A defining feature of Meta is its ambitious development of the metaverse, a virtual reality space where users can interact in a computer-generated environment, highlighting the company's commitment to pioneering new forms of digital interaction. Meta plays a significant role in digital marketing as one of the largest advertising platforms, providing businesses with tools to reach targeted audiences. This positions Meta as a crucial player in shaping the future of digital communication, social interaction, and virtual environments on a global scale.
Official SEC Documents
Advertisement