META Q3 2024 Earnings — Income Statement Breakdown
For its Q3 2024 period (ending 2024-09-30), META reported revenue of $40.6B, gross profit of $33.2B (81.8% gross margin), operating income of $17.4B, and net income of $15.7B (38.7% net margin). The flow of revenue into costs and profit is visualized below.
What changed
META was profitable; revenue grew 3.9% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +3.9% | +16.5% | +4.2 pp |
Consensus estimate data is not available for this report.
META Q3 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $40.6B | 100% |
| Cost of Revenue | −$7.4B | 18.2% |
| Gross Profit | $33.2B | 81.8% |
| Research & Development | −$11.2B | 27.5% |
| Selling, General & Administrative | −$4.7B | 11.5% |
| Operating Income | $17.4B | 42.7% |
| Other Income, net | $472M | 1.2% |
| Income Tax Expense | −$2.1B | 5.3% |
| Net Income | $15.7B | 38.7% |
Source: original SEC filing (filed 2024-10-30). Accession 0001326801-24-000077. Data normalized by EarningsFyi.