From Financial Modeling Prep: 2024-10-31 10:47:00

Meta Platforms (NASDAQ:META) exceeded Q3 earnings and revenue expectations due to strong ad impression growth and increased ad pricing. Despite this, shares dropped 3% as uncertainty remains around the company’s 2025 capital expenditure plans.

In Q3, Meta reported adjusted earnings per share of $6.03, above the $5.21 consensus, with revenue reaching $40.59 billion, a 19% YoY increase. Ad impressions grew by 7% and the average price per ad increased by 11%.

Meta’s family daily active people reached 3.29 billion in September, up 5% from last year, and free cash flow was $15.52 billion. Q4 revenue guidance is between $45 and $48 billion, with expected growth in capex for 2025 infrastructure.

While Meta anticipates “significant growth” in 2025 capex, they expect expenses to be lower than in Q4, despite reaffirming strong growth projections.



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