SAN FRANCISCO: Meta reported a staggering 59% increase in net income to $62.36 billion for 2024, with fourth-quarter profits jumping 49% to $20.84 billion. Revenue surged 22% to $164.5 billion, driven by a rise in ad prices and impressions across Facebook, Instagram, and WhatsApp.
CEO Mark Zuckerberg outlined plans for massive AI infrastructure investments, projecting capital expenditures of $60-65 billion in 2025. He expects Meta AI to become the leading personalized assistant, reaching over 1 billion users.
Meta’s user base grew to 3.35 billion daily active users, while Reality Labs, its virtual reality division, posted a $4.97 billion loss. The company expanded its workforce by 10%, despite announcing 3,600 job cuts to improve efficiency.
Regulatory scrutiny and emerging AI competitors, such as China’s DeepSeek, pose challenges, while content moderation changes may impact revenue growth. Meta forecasts first-quarter 2025 revenue of $39.5-41.8 billion, reflecting an 8-15% increase. Despite uncertainties, Meta remains bullish on AI’s future.
