Meta Platforms (META) Tops Q2 EPS by 46c, Offers Guidance

Meta Platforms (NASDAQ: META) reported Q2 EPS of $5.16, $0.46 better than the analyst estimate of $4.70. Revenue for the quarter came in at $39.07 billion versus the consensus estimate of $38.26 billion.

• Family daily active people (DAP) – DAP was 3.27 billion on average for June 2024, an increase of 7% year-over-year.
• Ad impressions – Ad impressions delivered across our Family of Apps increased by 10% year-over-year.
• Average price per ad – Average price per ad increased by 10% year-over-year.
• Revenue – Total revenue was $39.07 billion, an increase of 22% year-over-year. Revenue on a constant currency basis would have increased 23% year-over-year.
• Costs and expenses – Total costs and expenses were $24.22 billion, an increase of 7% year-over-year.
• Capital expenditures – Capital expenditures, including principal payments on finance leases, were $8.47 billion.
• Capital return program – Share repurchases were $6.32 billion of our Class A common stock and dividend payments were $1.27 billion.
• Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $58.08 billion as of June 30, 2024. Free cash flow was $10.90 billion.
• Headcount – Headcount was 70,799 as of June 30, 2024, a decrease of 1% year-over-year.

GUIDANCE:

Meta Platforms sees Q3 2024 revenue of $38.5-41 billion, versus the consensus of $39.14 billion.

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

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