Welcome to our dedicated page for Meta Platforms news (Ticker: META), a resource for investors and traders seeking the latest updates and insights on Meta Platforms stock.
Meta Platforms, Inc. (NASDAQ: META), formerly known as Facebook, Inc., is a leading multinational technology conglomerate based in Menlo Park, California. The company is renowned for its extensive portfolio of social media platforms and services, including Facebook, Instagram, WhatsApp, and Messenger, which together serve nearly 4 billion monthly active users worldwide. These applications enable users to connect, share content, and engage with communities in a variety of ways, such as messaging, photo sharing, and video posting.
Core Business and Revenue: Meta's primary revenue stream is derived from advertising, which accounts for over 90% of its total revenue. The advertising model is highly effective, leveraging user data to deliver targeted ads, with significant contributions from the US, Canada, and Europe.
Recent Achievements and Projects: In recent quarters, Meta has reported strong engagement across its platforms. The company is actively pursuing innovations in artificial intelligence (AI), with significant projects such as Llama 2 and Meta AI. Meta is also expanding its footprint in the augmented and virtual reality (AR/VR) space through initiatives like the Quest 3 headset and its broader Reality Labs division, which focuses on developing immersive experiences.
Financial Condition and Outlook: Meta's Q2 2023 financial results highlighted robust performance, with total revenues expected to reach between $32-34.5 billion in Q3 2023. Despite ongoing restructuring efforts, including facility consolidations and workforce reductions, the company remains committed to investing in high-growth areas such as AI and the metaverse. For the full year 2023, Meta anticipates total expenses between $88-91 billion and capital expenditures between $27-30 billion.
Partnerships and Sustainability: Meta has also engaged in significant partnerships to enhance its sustainability initiatives. A notable collaboration is with Arevon Energy, Inc., for the Kelso Solar Project in Missouri, which supports Meta's operations with 100% renewable energy. This project underscores Meta's commitment to environmental responsibility and sustainable growth.
Challenges and Regulatory Landscape: Meta faces various legal and regulatory challenges, particularly in the EU and US, which could impact its operations. The company is actively monitoring these developments and adapting its strategies accordingly.
Conclusion: Meta Platforms, Inc. continues to be a pivotal player in the tech industry, driving innovation and connecting billions of people worldwide. With its strategic focus on AI, AR/VR, and sustainable energy, Meta is well-positioned for future growth and resilience in an evolving digital landscape.
Meta highlights its commitment to sustainable data centers and renewable energy initiatives. The company has matched 100% of its annual electricity use with new renewable energy since 2020, contracting over 12 GW of renewable energy globally. Through partnerships with utilities and developers, Meta has enabled significant renewable energy projects, including a 150 MW geothermal power project and multiple solar installations.
By 2025, Meta's wind and solar projects will have supported $14.2 billion in capital investment throughout the US and created 74,000 jobs over 10 years. Currently, 88 of 117 projects in their portfolio are operational. The company maintains net zero emissions in global operations, having reduced emissions by 94% from 2017 baseline.
Meta Platforms (Nasdaq: META) has announced its quarterly cash dividend declaration. The company's board of directors has approved a dividend of $0.50 per share for both Class A and Class B common stock. The dividend will be paid on December 27, 2024, to stockholders who are on record as of the close of business on December 16, 2024.
Meta has signed four contracts with Invenergy for 760 MW of clean energy, bringing their total clean energy procurement to over 1 GW. The Environmental Attribute Purchase agreements (EAPAs) involve four solar facilities across the US: Hardin II Solar (150 MW, Ohio), Delilah II Solar (150 MW, Texas), Tip Top Solar (110 MW, New Mexico), and Chalk Bluff Solar (350 MW, Arkansas), with expected commercial operations between 2024 and 2027.
The electricity will be delivered to local grids, enhancing regional reliability while Meta receives clean energy credits for the new generation capacity. This initiative supports Meta's commitment to power all operations with 100% clean energy.
Meta has announced a commitment to invest at least $35 million in carbon removal projects over the next year, aligning with the U.S. Department of Energy's Carbon Dioxide Removal Purchasing Challenge. This initiative supports Meta's goal to achieve net zero emissions across its value chain by 2030.
The commitment matches the DOE's own pledge to advance atmospheric carbon dioxide removal technologies. Meta emphasizes that while reducing greenhouse gas emissions remains their primary strategy, they will support both nature-based and technological carbon removal solutions for residual emissions. The company aims to help scale the carbon removal market and reduce associated technology costs.
Meta has announced the recipients of the 2023 Llama Impact Grants, awarding $500,000 each to three organizations utilizing AI for social impact. Wadhwani AI will develop English learning tools for Indian schools, Digital Green will create agricultural advisory services for farmers in India, Kenya, and Nigeria, and Dana-Farber Cancer Institute will build a platform matching cancer patients to clinical trials. Runner-up Jacaranda Health received $300,000, and eleven additional organizations won Impact Innovation Awards. The program, launched in 2023, received over 800 applications from 90+ countries focusing on education, environment, and open innovation.
Meta (META) reported strong Q3 2024 financial results with revenue reaching $40.59 billion, up 19% year-over-year. Net income increased 35% to $15.688 billion, while diluted EPS grew 37% to $6.03. The company's operating margin improved to 43% from 40% last year. Family daily active people reached 3.29 billion, showing 5% growth year-over-year. Ad impressions increased 7%, while average price per ad rose 11%. For Q4 2024, Meta expects revenue between $45-48 billion and projects full-year expenses of $96-98 billion. The company notes increasing Reality Labs operating losses and expects significant capital expenditures growth in 2025.
Cornerstone OnDemand announced a strategic partnership with Meta (NASDAQ: META) to enhance immersive learning and extended reality (XR) capabilities through AI integration. The collaboration combines Cornerstone's 25-year expertise in learning and talent development with Meta's XR technologies and AI advancements. The partnership aims to democratize immersive learning for enterprises, focusing on workforce readiness and agility. Cornerstone Immerse and Immerse Companion will leverage GenAI for scaling personalized content creation and soft skills training, working alongside Meta's platform and hardware.
Meta showcased its commitment to UN's Sustainable Development Goals at the 2024 United Nations General Assembly through open technology initiatives. The company announced four key collaborations: with UNESCO for a 200-language translation interface using NLLB AI model, the US State Department for global AI inclusivity, Economist Impact for open-source AI research, and Stanford Deliberative Democracy Lab for AI community forums. Meta also revealed recipients of the Llama Impact Grants, including Wadhwani AI, Digital Green, and Dana Farber, who will use Llama 3 for education, agriculture, and healthcare applications.
Meta Platforms, Inc. (NASDAQ: META) has announced that its third quarter 2024 financial results will be released after market close on Wednesday, October 30, 2024. The company will host a conference call to discuss the results at 2:00 p.m. PT / 5:00 p.m. ET on the same day.
A live webcast of the call will be available on the Meta Investor Relations website at investor.fb.com, along with the earnings press release, financial tables, and slide presentation. A replay of the call and transcripts of conference calls with publishing equity research analysts will also be posted on the website.
Meta uses investor.fb.com, about.fb.com/news/, and Mark Zuckerberg's social media accounts (Facebook, Instagram, and Threads) for disclosing material non-public information and complying with Regulation FD disclosure obligations.
Meta has released its second annual Responsible Business Practices Report, highlighting efforts to maximize positive impacts and minimize negative impacts on society. The report, themed 'Unlocking Potential,' provides key metrics and insights on Meta's societal impact, including milestones, policies, and programs underpinning its responsible business strategy.
Key highlights include:
- Releasing Llama, an open-source AI model downloaded over 170 million times
- Launching the AI Alliance to accelerate responsible AI innovation
- Expanding parental supervision tools globally
- Implementing child safety initiatives like Lantern and Take It Down
- Completing a Human Rights Salient Risk Assessment
- Maintaining net zero in global operations
- Focusing on building a diverse workforce
The report is supplemented by in-depth reports on human rights, sustainability, and transparency, prepared in reference to global reporting standards.
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