Meta Platforms Profited Nearly $63 Billion From Its Apps in 2023, But You'll Never Believe How Much Money It Lost Trying to Develop the Future of the Company
On Feb. 1, Meta Platforms (NASDAQ: META) reported its biggest and most profitable quarter in history. Its "family of apps" includes Facebook, Instagram, and WhatsApp. And this trio absolutely delivered for shareholders in the fourth quarter of 2023.
In Q4, Meta's revenue grew 25% year over year. This was its best growth rate in over a year, boosting its full-year revenue to a whopping $135 billion.
Meta Platforms' Facebook enjoyed user growth from around the world in Q4, finishing with 2.1 billion daily active users. Management was upbeat about the results for Instagram and WhatsApp as well. These apps primarily make money through advertising. And in Q4, ad impressions (the number of times an ad was displayed) were up a strong 21% year over year.
Source Fool.com
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