Meta's (META) total revenue for 2024 reached $164.50 billion, marking a significant 22% year-over-year increase compared to 2023. This growth was primarily driven by a 22% increase in advertising revenue, which accounted for the majority of the company's revenue. The Family of Apps (FoA) segment contributed $162.36 billion to total revenue, while Reality Labs (RL) added $2.15 billion. The increase in advertising revenue was attributed to an 11% rise in ad impressions and a 10% increase in the average price per ad.

Net income for 2024 was $62.36 billion, a substantial increase from $39.10 billion in 2023. This represents a 48% growth in income from operations, which totaled $69.38 billion for the year. The improvement in profitability was driven by higher advertising revenue and partially offset by increased costs and expenses, including higher operational expenses related to data centers and technical infrastructure, as well as employee compensation.

Diluted earnings per share (EPS) for 2024 was $23.86, up from $14.87 in 2023, reflecting the company's strong financial performance. Basic EPS also increased to $24.61 from $15.19 in the prior year.

The Family of Apps (FoA) segment's income from operations increased by 39% to $87.11 billion in 2024, driven by higher advertising revenue. However, the Reality Labs (RL) segment reported a loss from operations of $17.73 billion, which widened by 10% compared to 2023 due to increased costs related to employee compensation and infrastructure.

Marketing and sales expenses decreased by 8% in 2024, amounting to $11.35 billion. This reduction was primarily due to lower restructuring charges and a slight decrease in employee compensation. General and administrative expenses also declined, contributing to improved cost efficiency.

Meta's capital expenditures for 2024 totaled $39.23 billion, including principal payments on finance leases. The company also repurchased $29.75 billion worth of Class A common stock and paid $5.07 billion in dividends, reflecting its strong cash flow and shareholder return strategy. Cash, cash equivalents, and marketable securities stood at $77.81 billion as of December 31, 2024.

Revenue growth was geographically diversified, with increases of 18% in the United States & Canada, 26% in Europe, 22% in Asia-Pacific, and 31% in the Rest of World. This highlights Meta's ability to expand its advertising reach across both mature and emerging markets.

The Reality Labs (RL) segment's revenue increased by 13% to $2.15 billion in 2024, primarily due to higher sales of consumer hardware products. However, the segment continues to operate at a loss, reflecting ongoing investments in virtual, augmented, and mixed reality technologies.

Meta's effective tax rate for 2024 was 12%, consistent with its strategic tax planning and operational efficiencies. The company also reported a headcount of 74,067 employees as of December 31, 2024, representing a 10% year-over-year increase.

Ad impressions delivered across Meta's Family of Apps increased by 11% in 2024, while the average price per ad rose by 10%. These metrics underscore the company's ability to enhance ad performance and capitalize on growing user engagement, particularly in regions like Asia-Pacific and the Rest of World.