Meta has reported its fourth quarter results for the year 2024 with a record-breaking revenue growth of 21% from the previous year, reaching $48.385 billion, and a net profit of $20.838 billion. The overall user base across all apps has increased by 5% to 3.35 billion users, with an uptick of 6% in ad views and a 14% increase in average ad prices.
The Reality Labs business group, responsible for the Metaverse project, met its revenue target for the past year, particularly in the fourth quarter with a revenue of $1.083 billion, up by 1%, but also saw a higher loss of $4.967 billion.
CEO Mark Zuckerberg commented on the potential for AI assistant apps with high capabilities to attract over 1 billion users this year, expressing confidence in Meta AI leading the market. He also addressed inquiries about the relationship with the Trump administration, highlighting the importance of government support in fostering innovation and progress.
Regarding DeepSeek, Zuckerberg emphasized the power of open-source AI models supported by Meta through the Llama model. This sets a standard for AI models globally, with ongoing advancements in Llama 4 training for both small and large-scale models.
TLDR: Meta’s Q4 2024 results show significant revenue growth, user base expansion, and AI innovation, affirming its position as a leader in the tech industry.
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