Meta's ad revenue surges 24% YoY; touches $38.7 bn in Q4

Meta (formerly Facebook)’s advertising revenue spiked by 24% for Q4FY23 and was $38.7 billion compared to $31.3 billion in the same period in 2022.

In the fourth quarter of 2023, ad impressions delivered across the brand’s Family of Apps increased by 21% year-over-year and the average price per ad increased by 2% year-over-year.

The brand reported revenue of $40.11 billion, an increase of 25% year-over-year for the fourth quarter of 2023.

Total costs and expenses showed a decrease of 8% and were $23.73 billion for the fourth quarter of 2023. Restructuring charges, included in costs and expenses, were $1.15 billion for Q4FY23.

The Daily Active Users (DAU) were 2.11 billion on an average for December 2023, an increase of 6% year-over-year. The Monthly Active Users (MAU) showed an increase of 3% year-over-year and were 3.07 billion as of December 31, 2023.

"We had a good quarter as our community and business continue to grow," said Mark Zuckerberg, Meta founder and CEO. "We've made a lot of progress on our vision for advancing AI and the metaverse."

In the company statement, Meta outlined its expectations for 2024. The expected quarter 2024 total revenue is in the range of $34.5-37 billion. The full-year 2024 total expenses are expected to be in the range of $94-99 billion.

It also added that it expects its growth to be driven by investments in servers, including both AI and non-AI hardware.

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