Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
Meta Platforms (NASDAQ: META) reported Q1 EPS of $4.71, $0.39 better than the analyst estimate of $4.32. Revenue for the quarter came in at $36.46 billion versus the consensus estimate of $36.14 billion.
- Family daily active people (DAP) – DAP was 3.24 billion on average for March 2024, an increase of 7% year-over-year.
- Ad impressions – Ad impressions delivered across our Family of Apps increased by 20% year-over-year.
- Average price per ad – Average price per ad increased by 6% year-over-year.
- Revenue – Total revenue and revenue on a constant currency basis were $36.46 billion and $36.35 billion, respectively, both of which increased by 27% year-over-year.
- Costs and expenses – Total costs and expenses were $22.64 billion, an increase of 6% year-over-year.
- Capital expenditures – Capital expenditures, including principal payments on finance leases, were $6.72 billion.
- Capital return program – Share repurchases were $14.64 billion of our Class A common stock and dividends payments were $1.27 billion.
- Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $58.12 billion as of March 31, 2024. Free cash flow was $12.53 billion.
- Headcount – Headcount was 69,329 as of March 31, 2024, a decrease of 10% year-over-year.
GUIDANCE:
Meta Platforms sees Q2 2024 revenue of $36.5-39 billion, versus the consensus of $38.3 billion.
For earnings history and earnings-related data on Meta Platforms (META) click here.