Here are the Q1 2024 numbers:
- Revenue rose by 27% y/y to $36.46 billion, in-line with management’supper guidance and above analysts’ estimate of $36.14 billion.
- Earnings per share was $4.71 versus analysts’ estimate of $4.31 while operating margin rose to 38% from 25% a year ago.
- The average Family daily active people (DAP) rose 7% y/y to 3.24 billion (analysts’ estimate: 3.21 billion).
- Meta is guiding Q2 2024 revenue in the range of $36.5-39 billion (analysts’ estimate: $38.2 billion or +25.9% y/y), updating its 2024 total expenses to a range of $96-99 billion from $94-99 billion due to higher infrastracture and legal costs and 2024 capex to a range of $35-40 billion from $30-37 billion due to continued scale up in its AI infrastracture.