Meta crushes earnings, revenue grows a smashing 21% in Q4
Undaunted by a shocking week in the AI world that questioned the “go big or go home” playbook that Meta and its competitors are following, the company is going full speed ahead.
Meta reported strong Q4 earnings, posting a $20.8 billion profit for the quarter — a 49% increase year over year — with revenues of $48.3 billion growing 21% from last year, easily beating estimates of $46.9 billion.
For the year, revenue was $164.5 billion, up 22% from 2023.
In Q4, Meta’s capital expenditures were $14.84 billion, an increase of 88% year over year. The total capital expenditures for FY 2024 were $39.2 billion.
Last week, CEO Mark Zuckerberg said the company plans on spending between $60 billion and $65 billion on AI infrastructure, including a city-sized data center and more than 1.3 million GPUs.
Meta expects to continue its investments in AI this year. In the 10-Q filing, the company said its “AI initiatives will require increased investment in infrastructure and headcount.”
Meta’s Reality Labs division, which develops AI glasses and VR headsets, continued its ongoing losses, with a $4.97 billion loss for the quarter, bringing the 2024 losses for the division to $17.8 billion.
“We continue to make good progress on AI, glasses, and the future of social media. I’m excited to see these efforts scale further in 2025,” Zuckerberg said.
The Wall Street Journal is reporting that Meta will pay President Trump $25 million to settle a lawsuit he filed over his account being banned in 2021.
Meta’s stock was up about 5% in after-hours trading.
