Meta Platforms Inc (META) Q3 2023 Earnings Report: Revenue Up 23% YoY

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Meta Platforms Inc (META) Q3 2023 Earnings Report: Revenue Up 23% YoY

GuruFocus2023-10-26

Summary Revenue increased by 23% YoY to $34.15 billion Net income rose by 164% YoY to $11.58 billion Diluted ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMeta Platforms Inc (META) Q3 2023 Earnings Report: Revenue Up 23% YoY\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-10-26 05:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.gurufocus.com/news/2112695/meta-platforms-inc-meta-q3-2023-earnings-report-revenue-up-23-yoy><strong>GuruFocus</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n           \n                Revenue increased by 23% YoY to $34.15 billion\n              \n                Net income rose by 164% YoY to $11.58 billion\n              \n                Diluted ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2112695/meta-platforms-inc-meta-q3-2023-earnings-report-revenue-up-23-yoy\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"META","symbol_name":"Meta Platforms","start_time":0,"source_url":"https://www.gurufocus.com/news/2112695/meta-platforms-inc-meta-q3-2023-earnings-report-revenue-up-23-yoy","article_id":"2378073545","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2378073545","pubTimestamp":1698268483,"sourceInfo":{"source_id":"gurufocus_highlight","name":"GuruFocus"},"weMediaInfo":null,"summary":"Diluted earnings per share  increased by 168% YoY to $4.39. Company repurchased $3.70 billion of its Class A common stock","collect":0,"end_time":0,"defaultTopTitle":"gurufocus.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"META":"Meta Platforms"},"translate_title":"Meta Platforms Inc（Meta）2023年第三季度财报：收入同比增长23%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"META":1},"content_text":"Summary\n           \n                Revenue increased by 23% YoY to $34.15 billion\n              \n                Net income rose by 164% YoY to $11.58 billion\n              \n                Diluted earnings per share (EPS) increased by 168% YoY to $4.39\n              \n                Company repurchased $3.70 billion of its Class A common stock\n              Meta Platforms Inc (META, Financial) released its Q3 2023 earnings report on October 25, 2023. The company reported a 23% YoY increase in revenue, reaching $34.15 billion. Net income also saw a significant rise of 164% YoY, amounting to $11.58 billion. Diluted earnings per share (EPS) increased by 168% YoY to $4.39.Financial Performance Meta Platforms Inc's revenue for Q3 2023 was $34.15 billion, a 23% increase from the same period in 2022. The company's net income also rose significantly by 164% YoY to $11.58 billion. Diluted earnings per share (EPS) increased by 168% YoY to $4.39.Costs and expenses for the quarter were $20.40 billion, a decrease of 7% YoY. The company's operating margin was 40%, a significant increase from the 20% reported in Q3 2022. The effective tax rate for the quarter was 17%, down from 21% in the same period last year.Operational Highlights Meta Platforms Inc reported that Family daily active people (DAP) was 3.14 billion on average for September 2023, a 7% YoY increase. Family monthly active people (MAP) was 3.96 billion as of September 30, 2023, also a 7% YoY increase. Facebook daily active users (DAUs) were 2.09 billion on average for September 2023, a 5% YoY increase. Facebook monthly active users (MAUs) were 3.05 billion as of September 30, 2023, a 3% YoY increase.Financial Position As of September 30, 2023, Meta Platforms Inc had cash, cash equivalents, and marketable securities amounting to $61.12 billion. The company's long-term debt was $18.38 billion. The company also reported a headcount of 66,185, a decrease of 24% YoY.Outlook For Q4 2023, Meta Platforms Inc expects total revenue to be in the range of $36.5-40 billion. The company anticipates full-year 2023 total expenses to be in the range of $87-89 billion, lowered from the prior range of $88-91 billion. For 2024, the company expects total expenses to be in the range of $94-99 billion.Share Repurchases During Q3 2023, Meta Platforms Inc repurchased $3.70 billion of its Class A common stock. As of September 30, 2023, the company had $37.22 billion available and authorized for repurchases.  Explore the complete 8-K earnings release (here) from Meta Platforms Inc for further details.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}