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Meta is still the King of Social

**Financials:** As the stock price shows, it was a good quarter for Meta. The company beat on users, revenue, and operating income:

* **šŸ¤Æ 2.96 Billion** Daily Active Users (DAU). (That’s like 40% of the population, for those doing the math).
* **Facebook alone** has 2 billion usersĀ 
* **Q4 Revenue**Ā of $31.3 billion
* **Operating income** of $6.4 billion, a 20% operating margin
* **Free Cash Flow** of $5.3 billion
* Authorized to buy back **~$50 billion** of stock
* The volume of **ad impressions increased 20%** while the **price-per-ad decreased 22%**. Signaling strong engagement and lower advertiser demand.
* **Meta reduced** its prior 2023 total expense guidance by ~$5 billion and its Capex guidance by ~$4 billion

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