Facebook and Instagram parent Meta ad revenue was up 22% last quarter. The company’s overall revenue increased by the identical percentage to $39.07 billion, its fourth straight quarter with +20% growth.
Net income surged 73% to $13.465 billion. The company’s operating margin improved to 38% from 29% in the previous yr.
Meta reported 3.27 billion day by day energetic people (DAP) in the quarter. Meta previously reported day by day and monthly energetic user numbers for its Facebook and Messenger apps. The DAP figure is the number of individuals accessing any one in every of its apps.
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Ad impressions across all its apps grew 10% year-over-year. The average price per ad was also up 10%.
“Second-quarter earnings exceeded forecasts, rising by $33.1 billion — representing a 22% jump in comparison with the prior yr,” said Lukman Otunuga, Senior Market Analyst at foreign currency trading broker, FXTM. “Meta’s investments in artificial intelligence boosted revenues in its core promoting business, leaving investors optimistic over the corporate’s business outlook. This is actually a vivid spot for markets and will soothe concerns over the AI hype being overblown.”
The company expects revenue growth next quarter to be between $38.5 billion and $41 billion and maintains its full-year 2024 total expenses outlook of $96 billion to $99 billion. The company anticipates significant capital expenditure growth in 2025 to support AI research and product development.
In other martech company earning news:
- Zeta Global reported $228 million in quarterly revenue, a 33% year-over-year increase. Its total Scaled Customer count to 468, a rise of 8% quarter-over-quarter and 43% year-over-year. The company generated money flow from operating activities of $31 million, a rise of 51% year-over-year.
- Criteo reported a 1% year-over-year revenue increase to $471 million and a 17% rise in gross profit to $233 million for the quarter. Net income surged to $28 million from a lack of $2 million for the second quarter of 2023. Retail Media revenue grew 23%, while Performance Media revenue declined 2%.
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