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Through the years, we created and nurtured dozens of projects that are now household names at Meta, used by dozens of teams to build better products: PyTorch, FAISS, Roberta, Dino, Llama, SAM, Codegen, Audiobox, ….

Today, as the world undergoes significant change, as the race for AI accelerates, and as Meta prepares for its next chapter, it is time to create space for others to pursue the work. I will be cheering from the sidelines, knowing that you have all the ingredients needed to build the best AI systems in the world, and to responsibly bring them into the lives of billions of people.

Following the unprecedented growth and momentum of our open source Llama collection of models and tools, we’re excited to introduce LlamaCon—a developer conference for 2025 that will take place April 29.

Quarterly Earnings

Q1 2025

Specifically, we have seen some reduced spend in the U.S. from Asia-based ecommerce exporters, which we believe is in anticipation of the de minimis exemption going away on May 2nd. A portion of that spend has been redirected to other markets, but overall spend for those advertisers is below the levels prior to April.

The higher costs we expect to incur for infrastructure hardware this year really comes from suppliers who source from countries around the world. And there’s just a lot of uncertainty around this, given the ongoing trade discussions.

We’re pleased to have partners investing alongside us and bringing Llama to market like AWS and Azure who are helping us host Llama.
We’re always looking for opportunities to continue deepening or expanding those partnerships. But we are funding the infrastructure that is being used to train Llama, and we don’t have any expectation that that will change at this point.

Our advertising revenue in the European economic area and Switzerland, which would be the geographies impacted here, was 16% of our worldwide total revenue in 2024.

So year-over-year growth in gaming was negative in Q1 as we lapped a period of strong spend from China-based advertisers that were promoting a larger volume of game titles in Q1 of 2024. And then year-over-year growth in the government and politics vertical dropped sharply as expected with the conclusion of U.S. elections. But that continues to just be a very small vertical overall.

Q4 2024

Q3 2024

Q2 2024

We are in the fortunate position where the strong results that we're seeing in our core products and business give us the opportunity to make deep investments for the future. And I plan to fully seize that opportunity to build some amazing things that will pay off for our community and our investors for decades to come. The progress we're making on both the foundational technology and product experiences suggests that we're on the right track.

~ Mark Zurkburg

Q1 2024

I think it's worth calling that out that we've historically seen a lot of volatility in our stock during this phase of our product playbook where we're investing in scaling a new product, but aren't yet monetizing it. We saw this with reels, stories as newsfeed transitioned to mobile and more and I also expect to see a multi-year investment cycle before we fully scaled Meta AI, business AIs and more into the profitable services I expect as well.

~ Mark Zurkburg

Q4 2023

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Q1 2023

Q4 2022

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Q4 2021

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Q4 2020

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Q4 2019

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Q4 2018