Meta Profit Is Up 16% to $7.8 Billion in Recent Quarter (2024)

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What are the results of Meta quarterly? ›

Meta's Profit and Revenue Highlights

Additionally, revenue saw a 27 percent rise to $36.46 billion, as compared to $28.65 billion the year ago. According to a poll by FactSet, analysts had anticipated earnings of $4.32 per share on revenue of $36.14 billion, slightly lower than Meta's reported figures.

Meta Platforms revenue for the twelve months ending March 31, 2024 was $142.712B, a 21.62% increase year-over-year. Meta Platforms annual revenue for 2023 was $134.902B, a 15.69% increase from 2022. Meta Platforms annual revenue for 2022 was $116.609B, a 1.12% decline from 2021.

Net income is expected to be $11.35 billion, a decline from the fourth quarter but an increase from $5.71 billion in Q1 2023. Diluted earnings per share (EPS) are projected at $4.34, compared with $2.20 in the same period a year earlier.

META Stock Forecast FAQ

Based on analyst ratings, Meta Platforms's 12-month average price target is $523.61. Meta Platforms has 3.86% upside potential, based on the analysts' average price target. Meta Platforms has a consensus rating of Strong Buy which is based on 37 buy ratings, 3 hold ratings and 2 sell ratings.

Meta Platforms stock plunged and the company lost billions of dollars in value as investors rushed to sell shares on Thursday after the tech giant shocked investors with plans to spend even more aggressively on artificial intelligence.

In simpler words, Meta can get into the $2 trillion market cap club by 2030 if it simply matches the growth of the digital ad market. But then, there is a good chance that Meta can keep gaining market share in digital advertising thanks to the integration of artificial intelligence (AI) tools.

Meta Platforms has a market cap or net worth of $1.28 trillion as of June 14, 2024. Its market cap has increased by 88.60% in one year.

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In 2023, Saudi Aramco, the Saudi Arabian oil giant, raked in the highest net revenue globally, scoring profits of over 247 billion U.S. dollars. Led by its current CEO Amin H. Nasser, this company, which started in 1933, thrives in the oil and gas industry.

What is Meta main source of income? ›

The majority of Meta's profits come from its advertising revenue, which amounted to 131.9 billion U.S. dollars in 2022. Meta's total Family of Apps revenue for 2022 amounted to 114 billion U.S. dollars.

Facebook Profit

Facebook reported $39 billion net profit in 2023, an increase on the $23.1 billion it made last year.

As of 2024-06-16, the Fair Value of Meta Platforms Inc (META) is 374.51 USD. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 504.16 USD, the upside of Meta Platforms Inc is -25.7%.

For the full year, analysts project that Meta's revenue will rise 17.8% to $158.9 billion in 2024, after climbing 15.7% last year, according to FactSet. Revenue slipped 1.1% in 2022. Meta's earnings are expected to grow this year but at a slower rate compared to Meta's 2023 recovery year.

First-quarter results

Total revenue rose 27% year over year to $36.5 billion, beating analysts' consensus forecast for about $36.2 billion.

Meta stock prediction for 1 year from now: $ 380.31 (-25.26%) Meta stock forecast for 2025: $ 666.22 (30.93%) Meta stock prediction for 2030: $ 2,563.26 (403.75%)

The consensus Meta share price forecast is that it could rise 15.36% over the coming year to $509.18 from its $441.38 closing price on April 25, 2024. Elsewhere, the Meta stock forecast of TipRanks has the stock as a 'Strong Buy,' based on the views it's collated from 43 Wall Street analysts as of April 26, 2024.

Meta's dividend payments will be worth billions

Meta said its quarterly dividend will be $0.50 per share, which will be paid out for the first time at the end of March 2024. On an annual basis, that's $2 for every share that an investor owns.

Meta-analysis findings may not only be quantitative but also may be qualitative and reveal the biases, strengths, and weaknesses of existing studies. The results of a meta-analysis can be used to form treatment recommendations or to provide guidance in the design of future clinical trials.