Meta Quarterly Results

Meta:

“We had a good quarter as our community and business continue to grow,” said Mark Zuckerberg, Meta founder and CEO. “We’ve made a lot of progress on our vision for advancing AI and the metaverse.”

$40.1 billion in revenue, $14 billion in profit. That’s a good business. In comparison, Apple reported $120 billion in revenue and $34 billion in profit. It’s worth keeping in mind that Apple’s numbers for the October–December quarter are skewed by holiday sales, but as a ballpark estimate, Meta is roughly one-third an Apple — and their current market caps (Meta: $1T, Apple: $3T) reflect that.

★ Saturday, 3 February 2024