The Investor's Edge

Meta Q3 2024 Earnings and Financial Results

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Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, reported strong financial results for the third quarter of 2024.

  • Revenue: $40.59 billion, up 19% year-over-year.
  • Daily Active People (DAP): 3.29 billion, up 5% year-over-year.
  • Reality Labs Revenue: $270 million, up 29% year-over-year.

    • Key Takeaways

    • Advertising Revenue Remains Strong: Meta's core advertising business continues to be a major driver of revenue growth.
    • Reality Labs Sees Growth: The company's investments in virtual and augmented reality are starting to pay off, with Reality Labs revenue increasing significantly.
    • AI Integration: Meta is heavily investing in AI technologies to enhance its products and services.

      • Overall, Meta's Q3 2024 results demonstrate the company's continued strength and resilience. The company is well-positioned to capitalize on future growth opportunities in the digital advertising and virtual reality markets.

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