Meta Platforms (META) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter decreased from the immediately preceding quarter but increased from the same quarter one year earlier. The year-over-year growth continued the positive trend, while the sequential decline broke the pattern of prior increases.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter decreased from the immediately preceding quarter but increased from the same quarter one year earlier. The year-over-year growth continued the positive trend, while the sequential decline broke the pattern of prior increases.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$36.5B
Revenue reported for this quarter.
Quarter-over-quarter
-9.1%
Change from the immediately preceding quarter.
Year-over-year
+27.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$142.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $32B | +11.0% |
| Sep 30, 2023 | $34.1B | +23.2% |
| Dec 31, 2023 | $40.1B | +24.7% |
| Mar 31, 2024 | $36.5B | +27.3% |
Revenue performance
Revenue for the quarter came in at over thirty-six billion dollars, reflecting a year-over-year increase but a sequential decline from the prior quarter.
Quarterly comparison
Compared to the same quarter last year, revenue grew by more than a quarter. However, relative to the immediately preceding quarter, revenue fell by nearly a tenth.
What to watch
The sequential decline in revenue should be monitored for signs of seasonality or changing demand trends.