Meta Reports $59.9 Billion in Q4 Revenue, Surpassing Market Expectations

Meta, the company operating Facebook and Instagram, announced on January 28 (local time) that its revenue for the fourth quarter of last year reached $59.89 billion (approximately 85.85 trillion won), up 24% compared to the same period the previous year.

This figure exceeds the market forecast of $58.59 billion compiled by market research firm LSEG.

Meta logo. Reuters Yonhap News

Earnings per share stood at $8.88, higher than the market expectation of $8.23.

On an annual basis, revenue increased by 22% year-on-year to $200.97 billion.

By segment, the advertising division, which accounts for 97% of total revenue, generated $58.137 billion, marking a 24% increase from the same period last year.

Reality Labs, which produces smart glasses and virtual reality (VR) devices, recorded revenue of $955 million, a decrease of about 11.8% from the previous year. The operating loss of Reality Labs, which recently laid off more than 1,000 employees, expanded by more than 20% year-on-year to $6.021 billion.