Meta announces revenue of $34.15 billion, the most profitable quarter in recent years
Posted: Mon Jan 06, 2025 8:56 am
Meta , the parent company of Facebook, Instagram and WhatsApp , announced in its earnings report revenues of $34.15 billion in the third quarter of the year, which exceeds the forecasts of $32.56 billion, and the shares soar in after-hours trading, as revealed by the company . In this way, the company has a net profit of $11.583 billion.
Revenue of $34.15 billion thus represents an increase compared to the 2022 results , with advertising being its main business driver. In this way, Mark Zuckerberg 's company consolidates portugal number screening the confidence of its investors, after several years of unstable results for the technology company. Even, and in the words of Zuckerberg himself, the company enjoys "its highest operating margin in the last two years."
As The Guardian points out , total time spent on Facebook increased by 7%, and on Instagram , by 6%, as a result of improvements in content recommendations on the platform, thanks to the company's emphasis on algorithmically recommending content to users. In addition, Reels , the short vertical video format, has increased the time users spend on Instagram by 40% since its arrival on the platform.
Revenue of $34.15 billion thus represents an increase compared to the 2022 results , with advertising being its main business driver. In this way, Mark Zuckerberg 's company consolidates portugal number screening the confidence of its investors, after several years of unstable results for the technology company. Even, and in the words of Zuckerberg himself, the company enjoys "its highest operating margin in the last two years."
As The Guardian points out , total time spent on Facebook increased by 7%, and on Instagram , by 6%, as a result of improvements in content recommendations on the platform, thanks to the company's emphasis on algorithmically recommending content to users. In addition, Reels , the short vertical video format, has increased the time users spend on Instagram by 40% since its arrival on the platform.