Meta reported record quarterly revenue and net profit for Q4 2024 as it looks to massively boost spending on AI in 2025.

Meta Platforms Inc. posted sharply higher profit and revenue for its fourth quarter on Wednesday, thanks to higher ad revenue on its social media properties, sending its shares up in after-hours trading even as it forecast increasing expenses on its artificial intelligence efforts.

In its quarterly financial results today, Meta revealed that its Reality Lab division saw its best ever Q4 revenue but, as before, this coincides with equally growing costs. Meta’s Reality Labs division houses its metaverse and XR groups,

Meta Platforms Inc. (NASDAQ:META) exceeded Wall Street expectations with its fourth-quarter earnings but issued a revenue forecast for Q1 2025 that slightly missed analyst estimates. For Q4 2024, Meta reported earnings

Facebook (META) has released its earnings report for Q4 2024, chronicling its financial performance over the past few months. In it, the company showed a beat on both revenue and EPS expectations. Meta released its Q4 2024 earnings report at the close of markets today.

Meta Platforms stock (NASDAQ:META) rose fractionally in the immediate aftermath of the company's fourth-quarter earnings report, where the company topped forecasts for revenues, profit and users, but issued soft revenue guidance for the current quarter.