Meta Platforms Inc. (NASDAQ: META) has announced a 21% year-over-year increase in revenue for the fourth quarter of 2024, reaching a net income of $20.8 billion. The company’s strong financial performance was driven by advancements in artificial intelligence (AI) that enhanced ad targeting and engagement across its platforms. CEO Mark Zuckerberg highlighted Meta’s AI-powered assistant, “Meta AI,” which is expected to reach over a billion users, further integrating AI into the company’s ecosystem. However, Meta cautioned that growth may slow in the first quarter of 2025 as digital ad spending stabilizes.
In a strategic move, Meta is exploring the possibility of relocating its incorporation from Delaware to Texas, while keeping its corporate headquarters in Menlo Park, California. This decision is influenced by Texas’ more favorable legal and regulatory environment, including tax advantages. Discussions regarding the potential move took place before the transition to the Trump administration, and analysts suggest this could provide Meta with financial and strategic benefits.
Additionally, Meta has agreed to pay $25 million to settle a lawsuit filed by former President Donald Trump, following the suspension of his accounts after the Jan. 6, 2021, U.S. Capitol attack. The settlement includes a $22 million contribution to Trump’s presidential library fund, with the remainder allocated to legal fees and other plaintiffs. The move is seen as part of Meta’s broader effort to navigate shifting political dynamics and regulatory scrutiny.
As of Feb. 5, 2025, Meta’s stock is trading at $712.30, reflecting a modest increase from the previous close. Investors remain optimistic about the company’s AI expansion and continued dominance in the digital advertising sector.
For more information, visit the company’s website at www.Meta.com
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