Facebook Twitter LinkedIn RSS
    Trending
    • Nigeria relaunches National Talent Export Programme to unlock $1 trillion global outsourcing market
    • SiBAN identifies five major hurdles to Nigeria’s Blockchain growth
    • Linda Ochugbua named among 50 Most Valuable Personalities in Nigeria’s Digital Economy
    • Four key findings from ICANN’s global survey on gTLDs
    • Experts warn of digital disaster risks in Nigeria without AI governance
    • NCC champions digital transformation in healthcare, commissions E-Health project in Akure
    • PalmPay drives financial literacy in Northern Nigeria with CSR initiative
    • N30 million scholarship up for grabs as InterswitchSPAK 7.0 0pens registrations for students
    Facebook Twitter LinkedIn
    ITPulse.com.ngITPulse.com.ng
    • News
    • Interviews
    • Blogs
    • Analysis
    • Opinion
    • Videos
    • Press Releases
    • Pictures
    • Advertise
    ITPulse.com.ngITPulse.com.ng
    Home»News»Meta makes impressive comeback, quarterly profit surges to $15.6 billion
    News 2 Mins Read

    Meta makes impressive comeback, quarterly profit surges to $15.6 billion

    mmBy ITPulseDecember 3, 202411 Views
    Facebook Twitter WhatsApp Pinterest LinkedIn Reddit Tumblr Email
    Facebook, Social Media, Twitter, Blog
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Social media giant, Meta Platforms has defied challenges and achieved a remarkable financial turnaround. Despite facing stiff competition and regulatory hurdles, the company’s quarterly net income skyrocketed to a staggering $15.6 billion in Q3 2024.

    This represents a massive 255% increase from the lows of 2022 and a whopping 1,850% jump over a decade.

    Meta’s journey over the past ten years has been a rollercoaster. While initial years saw consistent growth fueled by dominance in online advertising and cutting-edge AI, recent years brought new obstacles. Competition from platforms like TikTok, privacy concerns, and hefty metaverse investments all threatened profitability.

    In early 2019, after reaching a peak of $6.8 billion in net income, profits plunged to a mere $2.4 billion. Yet, Meta demonstrated remarkable resilience, leveraging its user base to recover by 2020. However, 2021 saw growth slow, and 2022 became a challenging year with a near 60% drop in quarterly net income.

    These setbacks sparked significant changes. Meta implemented strategic pivots, focusing on cost-cutting and its core advertising business. This renewed focus propelled the company back on track. After eight consecutive quarters of growth, Meta’s Q3 2024 results demonstrate a remarkable comeback.

    Meta’s ability to monetize its user base hasn’t just boosted profits. It has also boosted investor confidence. Since 2014, the company’s stock value has skyrocketed by 550%, adding over $1.2 trillion in value. This surpasses the ten-year growth of tech giant Alphabet by a significant margin (70%).

    Meta’s story highlights the dynamic nature of the tech industry. Despite facing challenges, the company has impressively bounced back, demonstrating its adaptability and resilience. With its strong financials and renewed focus, Meta appears well-positioned for continued success in the years to come.

    Meta
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    mm
    ITPulse
    • Website
    • Facebook
    • Twitter
    • LinkedIn

    ITPulse is a wholly information technology communication (ICT) news website, with a special focus on the African continent. The website provides up-to-date biz-tech news, analysis and comprehensive and thorough insight into the continent's ICT terrain

    Related Posts

    Nigeria relaunches National Talent Export Programme to unlock $1 trillion global outsourcing market

    June 1, 2025

    SiBAN identifies five major hurdles to Nigeria’s Blockchain growth

    May 31, 2025

    Linda Ochugbua named among 50 Most Valuable Personalities in Nigeria’s Digital Economy

    May 30, 2025

    Leave A Reply Cancel Reply

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Latest Posts

    Nigeria relaunches National Talent Export Programme to unlock $1 trillion global outsourcing market

    June 1, 2025

    SiBAN identifies five major hurdles to Nigeria’s Blockchain growth

    May 31, 2025

    Linda Ochugbua named among 50 Most Valuable Personalities in Nigeria’s Digital Economy

    May 30, 2025
    About
    About

    Itpulse.com.ng is a wholly information technology communication (ICT) news website, with special focus on the African continent. The website provides up-to-date biz-tech news, analysis and a comprehensive and thorough insight info the continent's ICT terrain.

    Contact us: editorial@itpulse.com.ng

    Facebook Twitter LinkedIn RSS
    Latest Posts

    Nigeria relaunches National Talent Export Programme to unlock $1 trillion global outsourcing market

    June 1, 2025

    SiBAN identifies five major hurdles to Nigeria’s Blockchain growth

    May 31, 2025

    Linda Ochugbua named among 50 Most Valuable Personalities in Nigeria’s Digital Economy

    May 30, 2025
    Popular Posts

    The psychology of design: Using cognitive principles to create intuitive user experiences, By Godwin Udu

    February 24, 2023

    UX design for short attention spans: Crafting experiences for the impatient user, By Godwin Udu

    August 24, 2022

    Four key findings from ICANN’s global survey on gTLDs

    May 30, 2025
    © 2017 - 2025 Itpulse. Designed by Max Excellence.
    • Terms & Conditions
    • Privacy Policy
    • Advertise
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.