5 ms·

Meta Reports Second Quarter 2024 Results [pdf]

35 points by mfiguiere 2y ago

deleted 2y ago
[deleted]
msoad 2y ago
A 9% improvement in margins is pretty good but I'm wondering if the margin was lower due to fine or something like that in '23?
- deleted 2y ago
  [deleted]
htrp 2y ago
>While we do not intend to provide any quantitative guidance for 2025 until the fourth quarter call, we expect infrastructure costs will be a significant driver of expense growth next year as we recognize depreciation and operating costs associated with our expanded infrastructure footprint. >We anticipate our full-year 2024 capital expenditures will be in the range of $37-40 billion, updated from our prior range of $35-40 billion. While we continue to refine our plans for next year, we currently expect significant capital expenditures growth in 2025 as we invest to support our artificial intelligence research and product development efforts Another 2 bn to buying AI chips
leetharris 2y ago
These massive megacorps are accelerating their grip on the tech world. While the rest of the economy struggles, they are posting record wins left and right. I can't help but feel like the end game is that the vast majority of us work for Microsoft, Apple, Google, Meta, Amazon, or similar. Especially if any of these achieve anything approaching AGI.
- next_xibalba 2y ago
  People said the same thing about East India Company, Standard Oil, IBM, GE, Walmart, etc. Things change and the future is extremely difficult to predict. Personally, I would assign an extremely low probability to this prediction.
consumer451 2y ago
It's interesting to me that "we continue to see good traction with our Ray-Ban Meta AI glasses" is front and center. I have always believed that this is the correct form factor for mass adoption of a new smart device. Right now it's audio-only feedback, but multi-modal LLMs blooming while they were building this product really worked in its favor. It is kind of a big deal that they have internally developed a mass-market consumer product which appears to be successful, isn't it? Side note: I find it hilarious that it isn't that much more expensive than a normal nice pair of Ray-Bans.
- from-nibly 2y ago
  It's because you are the product.
  - consumer451 2y ago
    If you mean the price, I don't see how these glasses monetize any data gathered, but I might be naive. To me it shows how insane the markup is on regular Luxottica products. You can stuff them full of tech and still ship them for not much more money than the dumb version. When this Ray-Ban product first shipped it made me think of an LVMH version: a smart purse. You would probably sell them even cheaper than the non-smart version. Luxury is a crazy market.
    - ilrwbwrkhv 2y ago
      Does anyone know why Luxottica Has such a hold on the market?
      - consumer451 2y ago
        While we wait for the Acquired podcast on them, I'll just have to assume that it's monopolistic behavior? Also, I just learned that it's now "Essilor Luxottica" after the merger.
ChrisArchitect 2y ago
Cleaner link: https://investor.fb.com/investor-news/press-release-details/2024/Meta-Reports-Second-Quarter-2024-Results/default.aspx https://investor.fb.com/investor-news/press-release-details/...
colesantiago 2y ago
How is this company still alive? Facebook is past it's sell by date yet even with Facebook / Meta (and it's family of apps) are being mired in scandals, investigations, large fines, violations, billions in large spending (e.g. metaverse) it still alive somehow. I thought with all of the above it should be a dead company by now, but it's still here. If this was any other company, any one scandal, investigations or large fines would bankrupt the company. Why isn't Facebook / Meta dead yet?
- next_xibalba 2y ago
  Because, by the numbers, users love their services and continue to use them. > Facebook is past it's sell by date I've not seen any evidence of this. Do you have supporting data in a decrease in MAUs/DAUs, or this more of an anecdote? I think a lot of us tend to over-extrapolate our personal experiences and beliefs to the population scale, not realizing that we're very much in a bubble of one kind or another. > being mired in scandals, investigations, large fines, violations, billions in large spending Users do. not. care. And so many of these scandals end up being overblown when the dust settles. Takes like "you are the product" are very much inside tech opinions that do not translate to the rest of the world. And I do mean world. Meta's apps continue to grow rapidly outside the U.S. > still alive somehow. It's not just still alive. It's thriving. Year over year, they grew revenue from $32B to $39B. That's +22%! That is astounding. Most companies 1/10th their size would kill for that kind of growth. And that's not to mention they grew net income by 73%.
  - ecjhdnc2025 2y ago
    > Takes like "you are the product" are very much inside tech opinions that do not translate to the rest of the world. I disagree with this. It's actually a pretty common understanding in UK culture at least; I've seen elderly photographers, young painters and one of my nephews use the phrase, recently. Aside from the pithy "take", people absolutely do, instinctively, understand that if they aren't paying for something, it is them being sold in some way, to advertisers. Even if they assume incorrectly that it's somewhat more blatant than it actually is -- people think that big firms are actually selling their data en masse rather than selling gated access to it. (I explain to people that you can really only sell a massive file of your customer data once; that's not where the big money is.)
dzonga 2y ago
printing money hand over fist.

35 points by mfiguiere 2y ago

deleted 2y ago

[deleted]

A 9% improvement in margins is pretty good but I'm wondering if the margin was lower due to fine or something like that in '23?

deleted 2y ago
[deleted]

htrp 2y ago

>While we do not intend to provide any quantitative guidance for 2025 until the fourth quarter call, we expect infrastructure costs will be a significant driver of expense growth next year as we recognize depreciation and operating costs associated with our expanded infrastructure footprint. >We anticipate our full-year 2024 capital expenditures will be in the range of $37-40 billion, updated from our prior range of $35-40 billion. While we continue to refine our plans for next year, we currently expect significant capital expenditures growth in 2025 as we invest to support our artificial intelligence research and product development efforts Another 2 bn to buying AI chips

leetharris 2y ago

These massive megacorps are accelerating their grip on the tech world. While the rest of the economy struggles, they are posting record wins left and right. I can't help but feel like the end game is that the vast majority of us work for Microsoft, Apple, Google, Meta, Amazon, or similar. Especially if any of these achieve anything approaching AGI.

next_xibalba 2y ago
People said the same thing about East India Company, Standard Oil, IBM, GE, Walmart, etc. Things change and the future is extremely difficult to predict. Personally, I would assign an extremely low probability to this prediction.

consumer451 2y ago

It's interesting to me that "we continue to see good traction with our Ray-Ban Meta AI glasses" is front and center. I have always believed that this is the correct form factor for mass adoption of a new smart device. Right now it's audio-only feedback, but multi-modal LLMs blooming while they were building this product really worked in its favor. It is kind of a big deal that they have internally developed a mass-market consumer product which appears to be successful, isn't it? Side note: I find it hilarious that it isn't that much more expensive than a normal nice pair of Ray-Bans.

from-nibly 2y ago
It's because you are the product.
- consumer451 2y ago
  If you mean the price, I don't see how these glasses monetize any data gathered, but I might be naive. To me it shows how insane the markup is on regular Luxottica products. You can stuff them full of tech and still ship them for not much more money than the dumb version. When this Ray-Ban product first shipped it made me think of an LVMH version: a smart purse. You would probably sell them even cheaper than the non-smart version. Luxury is a crazy market.
  - ilrwbwrkhv 2y ago
    Does anyone know why Luxottica Has such a hold on the market?
    - consumer451 2y ago
      While we wait for the Acquired podcast on them, I'll just have to assume that it's monopolistic behavior? Also, I just learned that it's now "Essilor Luxottica" after the merger.

ChrisArchitect 2y ago

Cleaner link: https://investor.fb.com/investor-news/press-release-details/2024/Meta-Reports-Second-Quarter-2024-Results/default.aspx https://investor.fb.com/investor-news/press-release-details/...

colesantiago 2y ago

How is this company still alive? Facebook is past it's sell by date yet even with Facebook / Meta (and it's family of apps) are being mired in scandals, investigations, large fines, violations, billions in large spending (e.g. metaverse) it still alive somehow. I thought with all of the above it should be a dead company by now, but it's still here. If this was any other company, any one scandal, investigations or large fines would bankrupt the company. Why isn't Facebook / Meta dead yet?

next_xibalba 2y ago
Because, by the numbers, users love their services and continue to use them. > Facebook is past it's sell by date I've not seen any evidence of this. Do you have supporting data in a decrease in MAUs/DAUs, or this more of an anecdote? I think a lot of us tend to over-extrapolate our personal experiences and beliefs to the population scale, not realizing that we're very much in a bubble of one kind or another. > being mired in scandals, investigations, large fines, violations, billions in large spending Users do. not. care. And so many of these scandals end up being overblown when the dust settles. Takes like "you are the product" are very much inside tech opinions that do not translate to the rest of the world. And I do mean world. Meta's apps continue to grow rapidly outside the U.S. > still alive somehow. It's not just still alive. It's thriving. Year over year, they grew revenue from $32B to $39B. That's +22%! That is astounding. Most companies 1/10th their size would kill for that kind of growth. And that's not to mention they grew net income by 73%.
- ecjhdnc2025 2y ago
  > Takes like "you are the product" are very much inside tech opinions that do not translate to the rest of the world. I disagree with this. It's actually a pretty common understanding in UK culture at least; I've seen elderly photographers, young painters and one of my nephews use the phrase, recently. Aside from the pithy "take", people absolutely do, instinctively, understand that if they aren't paying for something, it is them being sold in some way, to advertisers. Even if they assume incorrectly that it's somewhat more blatant than it actually is -- people think that big firms are actually selling their data en masse rather than selling gated access to it. (I explain to people that you can really only sell a massive file of your customer data once; that's not where the big money is.)

dzonga 2y ago

printing money hand over fist.