Solid Q4 Earnings: Meta, Apple, and NVIDIA Achieve Record Results
The 2024 Q4 earnings season is nearing its conclusion, as most S&P 500 companies have reported their results. Although a few significant players remain, overall, this reporting period proved solid, supported by robust performances from the Tech and Finance sectors.
Throughout this period, major companies like Meta Platforms (META), Apple (AAPL), and NVIDIA (NVDA) achieved quarterly records. Let’s examine each of these headlines more closely.
Meta Reports Record Sales & Profit
In its latest earnings release, Meta Platforms achieved an adjusted EPS of $8.02, alongside record sales of $48.4 billion, marking respective growth rates of 50% and 21%. The net income of $20.9 billion represents the company’s highest ever.
Furthermore, the company’s advertising segment continued to thrive, generating revenue of $46.8 billion, which not only surpassed our consensus estimate but also reflected 20% year-over-year growth. This performance underscores the ongoing strength in META’s advertising revenue.
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Additionally, META demonstrated steady user growth. Its Family Daily Active People (DAP) increased by 4% year-over-year, reaching approximately 3.4 billion. Average revenue per user also rose significantly, climbing 41% year-over-year, thanks to the robust advertising strategies.
Apple Breaks Multiple Records
Apple’s adjusted EPS reached $2.40, with sales totaling $124.3 billion, representing growth rates of 10% and 4%, respectively. These figures set all-time records for the company, and Services revenue also hit a historic high.
However, iPhone sales were slightly disappointing, especially given the recent introduction of Apple Intelligence. Sales totaled $69.2 billion, reflecting a marginal year-over-year decline of about 1%, and falling short of our consensus estimate.
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NVIDIA Continues Momentum
NVIDIA reported quarterly sales of $39.3 billion, a remarkable 78% increase year-over-year, also setting a new quarterly record. The adjusted EPS stood at $0.89, showing a 71% YoY growth and beating our consensus estimate by nearly 6%.
The surge in headline figures reflects stronger demand, a trend that has become noticeable in recent quarters. Notably, Data Center revenue remained a highlight, showcasing significant growth.
Data Center revenue reached an unprecedented $35.6 billion, growing by more than 90% year-over-year and 16% sequentially. This value exceeded our consensus estimate by $2.0 billion, illustrating NVIDIA’s consistent ability to outperform expectations.
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Bottom Line
Overall, the 2024 Q4 reporting cycle has been positive, with companies like Meta Platforms (META), Apple (AAPL), and NVIDIA (NVDA) posting record quarterly results.
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This article originally published on Zacks Investment Research (zacks.com).
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