Published , by TJ Denzer
Published , by TJ Denzer
As we continue through the current season of company quarterly earnings results, Meta was one of the most recent to report this week. The company formerly known as Facebook posted its Q4 2023 and FY 2023 earnings results. For Q4, Meta was able to achieve beats on both revenue and earnings-per-share, making for successful bottom line stats on its final quarter of its fiscal year.
Meta released its Q4 2023 and FY 2023 earnings results via the Facebook investor relations website this week. The company put up a revenue of $40.11 billion USD for Q4 2023. That was enough to beat out the Wall Street analyst expectations, which were set at $39.2 billion. Moreover, Meta’s actual EPS came out to $5.33 per share. That was more than enough to overcome the Earnings Whisper expectation of $5.00 per share, as well as Wall Street’s expectation of $4.96 per share.
Many may recall that Meta began its 2023 fiscal year with a massive layoff of around 10,000 job cuts for restructuring in what Mark Zuckerberg called the “year of efficiency” for Facebook. The company also faced a massive lawsuit from numerous states in 2023 for features on Facebook and Instagram that allegedly targeted children in an inappropriate manner. Nonetheless, Meta has continued to succeed in its business, especially as Twitter has floundered under Elon Musk’s leadership. Meta capitalized on the situation with the launch of Threads and gained an alleged 100 million users in short order.
Meta has been a controversial company in the tech space for a while, and it will likely be even more so since this is an election year, but its success is still undeniable. Stay tuned as we continue to report on Meta, Facebook, and other companies reporting quarterly results this season.