Meta Reports First Quarter 2025 Results
Meta reported strong Q1 2025 financial results with revenue reaching $42.31 billion, up 16% year-over-year. The company's net income surged 35% to $16.64 billion, with earnings per share of $6.43.
Key highlights include a growing user base of 3.43 billion daily active people, a 5% increase in ad impressions, and a 10% rise in average price per ad. Meta AI reached nearly 1 billion monthly active users.
Looking ahead, Meta expects Q2 2025 revenue between $42.5-45.5 billion and has lowered its full-year expense outlook to $113-118 billion. However, the company faces regulatory challenges in the EU regarding its subscription model, which could impact European business significantly by Q3 2025.
Meta ha riportato risultati finanziari solidi nel primo trimestre del 2025, con ricavi pari a 42,31 miliardi di dollari, in aumento del 16% rispetto all'anno precedente. L'utile netto della società è cresciuto del 35%, raggiungendo 16,64 miliardi di dollari, con un utile per azione di 6,43 dollari.
I punti salienti includono una base utenti in crescita di 3,43 miliardi di persone attive quotidianamente, un aumento del 5% delle impressioni pubblicitarie e un incremento del 10% del prezzo medio per annuncio. Meta AI ha raggiunto quasi 1 miliardo di utenti attivi mensili.
Guardando al futuro, Meta prevede ricavi per il secondo trimestre 2025 tra 42,5 e 45,5 miliardi di dollari e ha ridotto le stime delle spese annuali a 113-118 miliardi di dollari. Tuttavia, l'azienda deve affrontare sfide normative nell'UE riguardo al modello di abbonamento, che potrebbe influire significativamente sul business europeo entro il terzo trimestre del 2025.
Meta reportó sólidos resultados financieros en el primer trimestre de 2025, con ingresos que alcanzaron los 42,31 mil millones de dólares, un aumento del 16% interanual. Las ganancias netas de la compañía aumentaron un 35%, llegando a 16,64 mil millones de dólares, con ganancias por acción de 6,43 dólares.
Los aspectos destacados incluyen una base de usuarios en crecimiento de 3,43 mil millones de personas activas diariamente, un aumento del 5% en impresiones publicitarias y un incremento del 10% en el precio promedio por anuncio. Meta AI alcanzó casi 1 mil millones de usuarios activos mensuales.
De cara al futuro, Meta espera ingresos para el segundo trimestre de 2025 entre 42,5 y 45,5 mil millones de dólares y ha reducido su previsión de gastos anuales a 113-118 mil millones de dólares. Sin embargo, la compañía enfrenta desafíos regulatorios en la UE respecto a su modelo de suscripción, lo que podría afectar significativamente su negocio europeo para el tercer trimestre de 2025.
메타는 2025년 1분기 강력한 재무 실적을 보고했으며, 매출은 전년 대비 16% 증가한 423억 1천만 달러를 기록했습니다. 회사의 순이익은 35% 급증하여 166억 4천만 달러에 달했으며, 주당순이익은 6.43달러였습니다.
주요 내용으로는 일일 활성 사용자 수가 34억 3천만 명으로 증가했고, 광고 노출 수는 5% 상승했으며, 광고당 평균 가격은 10% 올랐습니다. 메타 AI는 월간 활성 사용자 수가 거의 10억 명에 달했습니다.
앞으로 메타는 2025년 2분기 매출을 425억~455억 달러로 예상하며, 연간 비용 전망을 1130억~1180억 달러로 낮췄습니다. 그러나 회사는 구독 모델과 관련해 EU에서 규제 문제에 직면해 있어 2025년 3분기까지 유럽 사업에 상당한 영향을 미칠 수 있습니다.
Meta a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un chiffre d'affaires atteignant 42,31 milliards de dollars, en hausse de 16 % par rapport à l'année précédente. Le bénéfice net de l'entreprise a bondi de 35 % pour atteindre 16,64 milliards de dollars, avec un bénéfice par action de 6,43 dollars.
Les points clés incluent une base d'utilisateurs en croissance de 3,43 milliards de personnes actives quotidiennement, une augmentation de 5 % des impressions publicitaires et une hausse de 10 % du prix moyen par annonce. Meta AI a atteint près d'un milliard d'utilisateurs actifs mensuels.
Pour l'avenir, Meta prévoit un chiffre d'affaires pour le deuxième trimestre 2025 compris entre 42,5 et 45,5 milliards de dollars et a revu à la baisse ses prévisions de dépenses annuelles à 113-118 milliards de dollars. Cependant, la société fait face à des défis réglementaires dans l'UE concernant son modèle d'abonnement, ce qui pourrait affecter significativement ses activités européennes d'ici le troisième trimestre 2025.
Meta meldete starke Finanzergebnisse für das erste Quartal 2025 mit einem Umsatz von 42,31 Milliarden US-Dollar, was einem Anstieg von 16 % gegenüber dem Vorjahr entspricht. Der Nettogewinn des Unternehmens stieg um 35 % auf 16,64 Milliarden US-Dollar, mit einem Gewinn je Aktie von 6,43 US-Dollar.
Wesentliche Highlights sind eine wachsende Nutzerbasis von 3,43 Milliarden täglich aktiven Personen, ein Anstieg der Werbeimpressionen um 5 % und ein 10%iger Anstieg des durchschnittlichen Preises pro Anzeige. Meta AI erreichte fast 1 Milliarde monatlich aktive Nutzer.
Für die Zukunft erwartet Meta einen Umsatz im zweiten Quartal 2025 zwischen 42,5 und 45,5 Milliarden US-Dollar und hat seine Gesamtkostenprognose für das Jahr auf 113-118 Milliarden US-Dollar gesenkt. Allerdings steht das Unternehmen vor regulatorischen Herausforderungen in der EU bezüglich seines Abonnementmodells, was das europäische Geschäft bis zum dritten Quartal 2025 erheblich beeinträchtigen könnte.
- Revenue increased 16% YoY to $42.31B
- Net income surged 35% YoY to $16.64B
- Operating margin improved to 41% from 38%
- Daily active users grew 6% YoY to 3.43B
- Ad price increased 10% YoY
- Strong cash position with $70.23B in cash and equivalents
- Lowered full-year expense guidance to $113-118B
- Meta AI reached almost 1B monthly active users
- Capital expenditure guidance increased to $64-72B from $60-65B
- EU regulatory challenges could significantly impact European revenue by Q3 2025
- Headcount increased 11% YoY, driving up operational costs
- DMA compliance issues with subscription model in Europe
- Operating expenses rose 9% YoY to $24.76B
Insights
Meta reports robust Q1 with revenue up 16%, EPS up 37%, and expanded margins, though European regulatory challenges loom.
Meta delivered exceptional financial results in Q1 2025, with
The dual growth in both ad impressions (
Meta's capital allocation strategy remains shareholder-friendly with
Looking forward, Meta provided mixed guidance - lowering its FY2025 expense outlook to
The primary concern stems from European regulatory challenges. The European Commission's ruling against Meta's subscription model under the DMA could materially impact European revenue beginning Q3 2025, adding uncertainty to an otherwise strong performance trajectory.
Meta's AI investments accelerate with nearly 1B monthly AI users, rising capital expenditures, while European regulatory challenges threaten regional revenue.
Meta's Q1 results underscore its transformation into an AI-centric organization. CEO Zuckerberg highlighted two strategic AI initiatives: "AI glasses" development and "Meta AI" which has reached nearly 1 billion monthly active users - a remarkable adoption milestone that positions Meta as a frontrunner in consumer AI applications.
The company's revised capital expenditure forecast (
Core engagement metrics remain strong with Family daily active people growing
The most significant headwind comes from Europe's regulatory environment. The European Commission's DMA ruling against Meta's subscription model presents a substantial challenge, with the company warning of potential "materially worse user experience for European users and a significant impact to European business and revenue" as early as Q3 2025. This illustrates the intensifying regulatory scrutiny facing major tech platforms in Europe.
Despite these regulatory obstacles, Meta's execution across user growth, monetization efficiency, and AI development demonstrates its ability to innovate while navigating an increasingly complex operating environment.
"We've had a strong start to an important year, our community continues to grow and our business is performing very well," said Mark Zuckerberg, Meta founder and CEO. "We're making good progress on AI glasses and Meta AI, which now has almost 1 billion monthly actives."
First Quarter 2025 Financial Highlights
Three Months Ended March 31, | % Change | ||||
In millions, except percentages and per share amounts | 2025 | 2024 | |||
Revenue | $ 42,314 | $ 36,455 | 16 % | ||
Costs and expenses | 24,759 | 22,637 | 9 % | ||
Income from operations | $ 17,555 | $ 13,818 | 27 % | ||
Operating margin | 41 % | 38 % | |||
Provision for income taxes | $ 1,738 | $ 1,814 | (4) % | ||
Effective tax rate | 9 % | 13 % | |||
Net income | $ 16,644 | $ 12,369 | 35 % | ||
Diluted earnings per share (EPS) | $ 6.43 | $ 4.71 | 37 % |
First Quarter 2025 Operational and Other Financial Highlights
- Family daily active people (DAP) – DAP was 3.43 billion on average for March 2025, an increase of
6% year-over-year. - Ad impressions – Ad impressions delivered across our Family of Apps increased by
5% year-over-year. - Average price per ad – Average price per ad increased by
10% year-over-year. - Revenue – Revenue was
, an increase of$42.31 billion 16% year-over-year. Revenue on a constant currency basis would have increased19% year-over-year. - Costs and expenses – Total costs and expenses were
, an increase of$24.76 billion 9% year-over-year. - Capital expenditures – Capital expenditures, including principal payments on finance leases, were
.$13.69 billion - Capital return program – Share repurchases of our Class A common stock were
and total dividend and dividend equivalent payments were$13.40 billion .$1.33 billion - Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were
.23 billion as of March 31, 2025. Cash flow from operating activities was$70 and free cash flow was$24.03 billion .(1)$10.33 billion - Headcount – Headcount was 76,834 as of March 31, 2025, an increase of
11% year-over-year.
________________________ |
(1) For more information on our free cash flow non-GAAP financial measure, see the sections entitled "Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Results" in this press release. |
CFO Outlook Commentary
We expect second quarter 2025 total revenue to be in the range of
We expect full year 2025 total expenses to be in the range of
We anticipate our full year 2025 capital expenditures, including principal payments on finance leases, will be in the range of
Absent any changes to our tax landscape, we expect our full year 2025 tax rate to be in the range of 12
In addition, we continue to monitor an active regulatory landscape, including legal and regulatory headwinds in the EU and the
Webcast and Conference Call Information
Meta will host a conference call to discuss its results at 2:00 p.m. PT / 5:00 p.m. ET today. The live webcast of the call can be accessed at the Meta Investor Relations website at investor.atmeta.com, along with the company's earnings press release, financial tables, and slide presentation.
Following the call, a replay will be available at the same website. Transcripts of conference calls with publishing equity research analysts held today will also be posted to the investor.atmeta.com website.
Disclosure Information
Meta uses the investor.atmeta.com and meta.com/news websites as well as Mark Zuckerberg's Facebook Page (facebook.com/zuck), Instagram account (instagram.com/zuck) and Threads profile (threads.net/zuck) as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
About Meta
Meta is building the future of human connection, powered by artificial intelligence and immersive technologies. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward experiences that foster deeper connections and unlock new possibilities.
Contacts
Investors:
Kenneth Dorell
investor@meta.com / investor.atmeta.com
Press:
Ashley Zandy
press@meta.com / meta.com/news
Forward-Looking Statements
This press release contains forward-looking statements regarding our future business plans and expectations. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: the impact of macroeconomic conditions on our business and financial results, including as a result of geopolitical events; our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on data signals and mobile operating systems, networks, and standards that we do not control; changes to the content or application of third-party policies that impact our advertising practices; risks associated with new products and changes to existing products as well as other new business initiatives, including our artificial intelligence initiatives and Reality Labs efforts; our emphasis on community growth and engagement and the user experience over short-term financial results; maintaining and enhancing our brand and reputation; our ongoing privacy, safety, security, and content and advertising review and enforcement efforts; competition; risks associated with government actions that could restrict access to our products or impair our ability to sell advertising in certain countries; litigation and government inquiries; privacy, legislative, and regulatory concerns or developments; risks associated with acquisitions; security breaches; our ability to manage our scale and geographically-dispersed operations; and market conditions or other factors affecting the payment of dividends. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K filed with the SEC on January 30, 2025, which is available on our Investor Relations website at investor.atmeta.com and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. In addition, please note that the date of this press release is April 30, 2025, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
For a discussion of limitations in the measurement of certain of our community metrics, see the section entitled "Limitations of Key Metrics and Other Data" in our most recent quarterly or annual report filed with the SEC.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in
We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business.
Our non-GAAP financial measures are adjusted for the following items:
Foreign exchange effect on revenue. We translated revenue for the three months ended March 31, 2025 using the prior year's monthly exchange rates for our settlement or billing currencies other than the
Purchases of property and equipment; Principal payments on finance leases. We subtract both purchases of property and equipment, and principal payments on finance leases in our calculation of free cash flow because we believe that these two items collectively represent the amount of property and equipment we need to procure to support our business, regardless of whether we procure such property or equipment with a finance lease. We believe that this methodology can provide useful supplemental information to help investors better understand underlying trends in our business. Free cash flow is not intended to represent our residual cash flow available for discretionary expenditures.
For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, see the "Reconciliation of GAAP to Non-GAAP Results" table in this press release.
META PLATFORMS, INC. | |||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||
(In millions, except per share amounts) | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Revenue | $ 42,314 | $ 36,455 | |
Costs and expenses: | |||
Cost of revenue | 7,572 | 6,640 | |
Research and development | 12,150 | 9,978 | |
Marketing and sales | 2,757 | 2,564 | |
General and administrative | 2,280 | 3,455 | |
Total costs and expenses | 24,759 | 22,637 | |
Income from operations | 17,555 | 13,818 | |
Interest and other income, net | 827 | 365 | |
Income before provision for income taxes | 18,382 | 14,183 | |
Provision for income taxes | 1,738 | 1,814 | |
Net income | $ 16,644 | $ 12,369 | |
Earnings per share: | |||
Basic | $ 6.59 | $ 4.86 | |
Diluted | $ 6.43 | $ 4.71 | |
Weighted-average shares used to compute earnings per share: | |||
Basic | 2,527 | 2,545 | |
Diluted | 2,590 | 2,625 |
META PLATFORMS, INC. | |||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||
(In millions) | |||
(Unaudited) | |||
March 31, 2025 | December 31, 2024 | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 28,750 | $ 43,889 | |
Marketable securities | 41,480 | 33,926 | |
Accounts receivable, net | 14,514 | 16,994 | |
Prepaid expenses and other current assets | 5,483 | 5,236 | |
Total current assets | 90,227 | 100,045 | |
Non-marketable equity securities | 6,168 | 6,070 | |
Property and equipment, net | 133,567 | 121,346 | |
Operating lease right-of-use assets | 15,505 | 14,922 | |
Goodwill | 20,654 | 20,654 | |
Other assets | 14,092 | 13,017 | |
Total assets | $ 280,213 | $ 276,054 | |
Liabilities and stockholders' equity | |||
Current liabilities: | |||
Accounts payable | $ 8,512 | $ 7,687 | |
Operating lease liabilities, current | 1,976 | 1,942 | |
Accrued expenses and other current liabilities | 23,402 | 23,967 | |
Total current liabilities | 33,890 | 33,596 | |
Operating lease liabilities, non-current | 18,714 | 18,292 | |
Long-term debt | 28,829 | 28,826 | |
Long-term income taxes | 10,991 | 9,987 | |
Other liabilities | 2,760 | 2,716 | |
Total liabilities | 95,184 | 93,417 | |
Commitments and contingencies | |||
Stockholders' equity: | |||
Common stock and additional paid-in capital | 85,568 | 83,228 | |
Accumulated other comprehensive loss | (1,865) | (3,097) | |
Retained earnings | 101,326 | 102,506 | |
Total stockholders' equity | 185,029 | 182,637 | |
Total liabilities and stockholders' equity | $ 280,213 | $ 276,054 |
META PLATFORMS, INC. | |||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
(In millions) | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Cash flows from operating activities | |||
Net income | $ 16,644 | $ 12,369 | |
Adjustments to reconcile net income to net cash provided by operating | |||
Depreciation and amortization | 3,900 | 3,374 | |
Share-based compensation | 4,147 | 3,562 | |
Deferred income taxes | (993) | (456) | |
Other | (231) | 174 | |
Changes in assets and liabilities: | |||
Accounts receivable | 2,804 | 2,520 | |
Prepaid expenses and other current assets | 360 | 100 | |
Other assets | (52) | (94) | |
Accounts payable | (1,034) | (1,112) | |
Accrued expenses and other current liabilities | (2,231) | (1,274) | |
Other liabilities | 712 | 83 | |
Net cash provided by operating activities | 24,026 | 19,246 | |
Cash flows from investing activities | |||
Purchases of property and equipment | (12,941) | (6,400) | |
Purchases of marketable securities | (11,763) | (6,887) | |
Sales and maturities of marketable securities | 4,784 | 4,625 | |
Other investing activities | (90) | (72) | |
Net cash used in investing activities | (20,010) | (8,734) | |
Cash flows from financing activities | |||
Taxes paid related to net share settlement of equity awards | (4,883) | (3,162) | |
Repurchases of Class A common stock | (12,754) | (15,008) | |
Payments for dividends and dividend equivalents | (1,329) | (1,273) | |
Principal payments on finance leases | (751) | (315) | |
Other financing activities | 222 | (9) | |
Net cash used in financing activities | (19,495) | (19,767) | |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 112 | (288) | |
Net decrease in cash, cash equivalents, and restricted cash equivalents | (15,367) | (9,543) | |
Cash, cash equivalents, and restricted cash equivalents at beginning of the period | 45,438 | 42,827 | |
Cash, cash equivalents, and restricted cash equivalents at end of the period | $ 30,071 | $ 33,284 | |
Reconciliation of cash, cash equivalents, and restricted cash equivalents to the | |||
Cash and cash equivalents | $ 28,750 | $ 32,307 | |
Restricted cash equivalents, included in prepaid expenses and other current | 71 | 84 | |
Restricted cash equivalents, included in other assets | 1,250 | 893 | |
Total cash, cash equivalents, and restricted cash equivalents | $ 30,071 | $ 33,284 | |
Supplemental cash flow data | |||
Cash paid for income taxes, net | $ 448 | $ 630 |
Segment Results
We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes our virtual, augmented, and mixed reality related consumer hardware, software, and content.
The following table presents our segment information of revenue and income (loss) from operations:
Segment Information | |||
(In millions) | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Revenue: | |||
Advertising | $ 41,392 | $ 35,635 | |
Other revenue | 510 | 380 | |
Family of Apps | 41,902 | 36,015 | |
Reality Labs | 412 | 440 | |
Total revenue | $ 42,314 | $ 36,455 | |
Income (loss) from operations: | |||
Family of Apps | $ 21,765 | $ 17,664 | |
Reality Labs | (4,210) | (3,846) | |
Total income from operations | $ 17,555 | $ 13,818 |
Reconciliation of GAAP to Non-GAAP Results | |||
(In millions, except percentages) | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
GAAP revenue | $ 42,314 | $ 36,455 | |
Foreign exchange effect on 2025 revenue using 2024 rates | 1,237 | ||
Revenue excluding foreign exchange effect | $ 43,551 | ||
GAAP revenue year-over-year change % | 16 % | ||
Revenue excluding foreign exchange effect year-over-year change % | 19 % | ||
GAAP advertising revenue | $ 41,392 | $ 35,635 | |
Foreign exchange effect on 2025 advertising revenue using 2024 rates | 1,224 | ||
Advertising revenue excluding foreign exchange effect | $ 42,616 | ||
GAAP advertising revenue year-over-year change % | 16 % | ||
Advertising revenue excluding foreign exchange effect year-over-year change % | 20 % | ||
Net cash provided by operating activities | $ 24,026 | $ 19,246 | |
Purchases of property and equipment | (12,941) | (6,400) | |
Principal payments on finance leases | (751) | (315) | |
Free cash flow | $ 10,334 | $ 12,531 |
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SOURCE Meta