Meta Platforms exceeded expectations with unadjusted earnings per share at $5.16 on $39.071 billion revenue, demonstrating 22.1% year-over-year growth. Operating income soared by 58.1% to $14.847 billion, showcasing revenue acceleration outweighing rising costs.
Family of Apps recorded 3.27 billion DAP in June 2024, with a 10% increase in ad impressions and average price per ad. Revenue from this segment rose by 22.1% to $38.718 billion with an operating income of $19.335 billion.
Reality Labs, focused on Metaverse, saw revenue of $353 million (+27.9%), but an increased operating loss of $4.488 billion due to investments in Oculus VR, augmented reality hardware, and Quest 3.
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