Meta posts sharply higher profit, topping Wall Street’s expectations

Associated Press

Jan 30, 2025 – 9.21am

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Meta Platforms posted sharply higher profit and revenue for its fourth quarter on Wednesday (Thursday AEDT) in the US, 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.

The California-based company earned $US20.83 billion ($33.5 billion), or $US8.02 per share, in the October-December quarter. That’s up 49 per cent from $US14.02 billion, or $US5.33 per share, in the same period a year earlier.