Meta Earnings Summary

In an earnings call for the fourth quarter of 2023, Meta reported a positive quarter and outlined its views on the future, with a special emphasis on the long-term vision of artificial intelligence (AI) and the metaverse. Here's a summary of the main highlights:

1) Financial performance: Meta reported total revenue of $40.1 billion for the fourth quarter, up 25% year over year. Net profit was $14 billion and earnings per share were $5.33. The company emphasized the importance of improving its financial position by improving efficiency and controlling costs.

2) User growth: Mark Zuckerberg said more than 3.1 billion people around the world use at least one Meta app every day. This shows the broad appeal of Meta services and an increase in user engagement.

3) Artificial intelligence and product innovation: Zuckerberg placed special emphasis on Meta's long-term vision in the field of AI, which aims to provide every user, creator, and enterprise with world-class AI assistants. He also mentioned future ideas for achieving seamless AI interaction on devices such as smart glasses.

4) Metaverse progress: Despite AI receiving more attention recently, Zuckerberg confirmed that the metaverse remains one of the company's key long-term strategies. He mentioned that the Quest 3 sold well during the holiday season, which bodes well for mixed reality devices.

5) Advertising business and social apps: Susan Li mentioned that the advertising business continues to show strong growth, particularly in online commerce and gaming. Engagement in Reels and video content continues to grow, and the newly launched Threads app has reached 130 million monthly active users.

6) Efficiency and cost control: The company focused on improving efficiency over the past year, including layoffs and optimizing the cost structure. Zuckerberg emphasized that becoming a leaner company helps execute better and faster, and makes this value a permanent part of the company's operations.

7) Capital expenditure and investment: In 2024, Meta expects capital expenditure to be between $30 billion and $37 billion, reflecting investments in servers, data centers, and network infrastructure.

During the conference call, Meta's leadership presented the company's clear vision for the future, particularly long-term investments in AI and the metaverse. Despite macroeconomic challenges and competitive pressures, Meta remains focused on innovation and user growth to solidify its position as a leading technology company. $Meta Platforms(META.US)$

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