Meta Platforms (META) Tops Q3 EPS by 82c, Offers Guidance

Meta Platforms (NASDAQ: META) reported Q3 EPS of $6.03, $0.82 better than the analyst estimate of $5.21. Revenue for the quarter came in at $40.59 billion versus the consensus estimate of $40.18 billion.

GUIDANCE:

Meta Platforms sees Q4 2024 revenue of $45-48 billion, versus the consensus of $46.09 billion.

• We expect fourth quarter 2024 total revenue to be in the range of $45-48 billion. Our guidance assumes foreign currency is approximately neutral to year-over-year total revenue growth, based on current exchange rates.
• We expect full-year 2024 total expenses to be in the range of $96-98 billion, updated from our prior range of $96-99 billion. For Reality Labs, we continue to expect 2024 operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and investments to further scale our ecosystem.
• We anticipate our full-year 2024 capital expenditures will be in the range of $38-40 billion, updated from our prior range of $37-40 billion. We continue to expect significant capital expenditures growth in 2025. Given this, along with the back-end weighted nature of our 2024 capital expenditures, we expect a significant acceleration in infrastructure expense growth next year as we recognize higher growth in depreciation and operating expenses of our expanded infrastructure fleet.
• Absent any changes to our tax landscape, we expect our fourth quarter 2024 tax rate to be in the low-teens.
• In addition, we continue to monitor an active regulatory landscape, including the increasing legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results.

For earnings history and earnings-related data on Meta Platforms (META) click here.

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