SAN FRANCISCO, Jan. 29 (Xinhua) -- U.S. social media giant Meta Platforms, Inc. on Wednesday reported financial results for the quarter and full year ending Dec. 31, 2024, with a total quarterly revenue of 48.4 billion U.S. dollars, a 21 percent increase year on year.
The company's full-year 2024 revenue was 164.5 billion dollars, a 22 percent increase year over year. Its diluted earnings per share were 8.02 dollars and 23.86 dollars, respectively, for the quarter and the full year.
The company's quarterly net income increased to 20.8 billion dollars, up 49 percent from 14.0 billion dollars year on year, said Meta, which is based in Menlo Park, California.
The company recorded a net income of 62.4 billion dollars for the full year, up 59 percent from 39.1 billion dollars in 2023.
The company's family daily active people (DAP) was 3.35 billion on average for December 2024, an increase of 5 percent year over year.
Its cash, cash equivalents, and marketable securities were 77.8 billion dollars as of Dec. 31, 2024. Free cash flow was 13.15 billion dollars and 52.1 billion dollars for the fourth quarter and full year 2024, respectively, according to the company.
"We continue to make good progress on AI, glasses, and the future of social media," said Mark Zuckerberg, Meta founder and CEO. "I'm excited to see these efforts scale further in 2025."
The company expects the first quarter 2025 total revenue to be in the range of 39.5 to 41.8 billion dollars. This reflects 8 to 15 percent year-over-year growth, or 11 to 18 percent growth on a constant currency basis.
"We expect the investments we are making in our core business this year will give us an opportunity to continue delivering strong revenue growth throughout 2025," Meta said.
It expects full year 2025 total expenses to be in the range of 114 to 119 billion dollars. The single largest driver of expense growth in 2025 will be infrastructure costs. Employee compensation will be the second-largest factor as the company adds technical talent in the priority areas of infrastructure, monetization, Reality Labs, generative artificial intelligence (AI), as well as regulation and compliance, according to Meta.
The company anticipates the full year 2025 capital expenditures will be in the range of 60 to 65 billion dollars, driven by increased investment to support both its generative AI efforts and core business.
"In addition, we continue to monitor an active regulatory landscape, including legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results," said Meta. ■
