Meta is known as one of the biggest technology companies in the world. The company owns popular platforms such as Instagram, Facebook, WhatsApp and Giphy. It also operates in artificial intelligence, AR/VR and advertising. Finally, Meta shared its financial report for the fourth quarter of 2023. Thus, it became clear how much money it made.
Meta financial report for the fourth quarter of 2023
When we look at the financial report shared by Meta on its official website, we see that the company generated $ 40.1 billion in revenue in the fourth quarter of 2024. Accordingly, we can say that there was a 25 percent increase on an annual basis. Revenue for the whole year is 134.9 billion dollars.
We see that Meta’s costs and expenses in the fourth quarter were 23.73 billion dollars. There is an 8 percent decrease on an annual basis. Costs and expenses for the whole year are reported to be 134.9 billion dollars. At this point, it should be noted that the company has long-term debt of $ 18.39 billion as of December 31, 2023.
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Stating that it had a total of 67,317 employees as of the end of last year, the company reduced its staff by 22 percent in the same year.
In December 2023, the average number of daily active users of Facebook was recorded as 2.11 billion. According to data from the same period, ad impressions on the platform increased by 28 percent, while the average price paid for ads decreased by 9 percent.
Meta’s Reality Labs unit, which focuses on the Metaverse, reported revenue of $11 billion in the fourth quarter of 2023 but a loss of $46.5 billion. This figure was $13.7 billion in 2022. Although this unit of the company has been unprofitable for years, CEO Mark Zuckerberg remains stubborn and continues to look positively to the future.
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