Meta Reports Strong Financial Results for 2023
Family of Apps Revenue Up 16% Year-Over-Year
Meta Platforms, Inc. (META) today announced its financial results for the fourth quarter and full year 2023. For the full year, the company reported total revenue of $133.0 billion, an increase of 16% year-over-year. Ad revenue also increased by 16% to $131.9 billion.
Key Financial Highlights
- Total revenue: $133.0 billion, up 16% year-over-year
- Ad revenue: $131.9 billion, up 16% year-over-year
- Net income: $46.7 billion, down 4% year-over-year
- Diluted earnings per share: $11.36, down 3% year-over-year
Meta's Family of Apps segment, which includes Facebook, Instagram, WhatsApp, and Messenger, continues to drive the company's revenue growth. The segment's revenue increased by 16% to $128.3 billion for the full year.
The company's Reality Labs segment, which includes Meta's virtual reality and augmented reality businesses, reported revenue of $4.7 billion for the full year, an increase of 28% year-over-year. Meta is investing heavily in this segment as it sees it as a key growth area for the future.
Overall, Meta's financial results for 2023 were strong. The company continued to grow its revenue and profitability, and it made significant progress in its Reality Labs segment.
Earnings Call Transcript
A transcript of Meta's earnings call will be available on the company's website following the call.
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