Meta posts big profit, Microsoft net income rises 10 percent

Meta posts big profit, Microsoft net income rises 10 percent

NEW YORK
Meta posts big profit, Microsoft net income rises 10 percent

Social media giant Meta reported surging profits and revenue for 2024, announcing ambitious plans to expand its artificial intelligence infrastructure in the year ahead.

Haberin Devamı

The parent company of Facebook, Instagram, and WhatsApp saw its net income soar 59 percent to $62.36 billion for the full year, while fourth-quarter profits jumped 49 percent to $20.84 billion.

Revenue reached $164.5 billion, up 22 percent from 2023, boosted by stronger advertising performance as ad prices rose 10 percent and impressions increased 11 percent across its platforms.

"We continue to make good progress on AI, glasses, and the future of social media," CEO Mark Zuckerberg said, expressing optimism about scaling these initiatives in 2025.

The company's user base continued to grow, reaching 3.35 billion daily active users across its platforms in December 2024, a 5 percent increase year-over-year.

Looking ahead, Meta plans massive infrastructure investments, with expected capital expenditures of $60-65 billion for 2025, primarily supporting AI initiatives. Total expenses are projected to reach $114-119 billion.

Meanwhile, Microsoft’s profit for the October-December quarter grew 10 percent as it works to capitalize on the huge amounts of money it has spent to advance its artificial intelligence technology.

The company reported net income for the quarter of $24.1 billion.

Sales from Microsoft’s cloud-focused business segment that includes its flagship Azure computing platform grew 19% from the same time last year to $25.5 billion, which was less than the $25.83 billion forecast by FactSet analysts.

Microsoft’s productivity business segment, which includes its Office suite of email and other workplace products, grew 14 percent to $29.4 billion.