Meta Platforms posted fourth-quarter revenue of $59.9 billion, a 24% year-over-year increase, driven by a 24% rise in advertising revenue to $58.1 billion. Earnings per share arrived at $8.88, outpacing consensus estimates by over 7%. Daily active users across Facebook, Instagram and WhatsApp reached 3.58 billion, up 7% from the prior year. Operating income climbed to $24.7 billion, representing a 41% margin, underscoring the efficiency of Meta’s ad business even as it invests heavily in new technologies.

Meta forecast full-year capital expenditures of $115 billion to $135 billion, an increase of roughly 87% from the prior year’s $72 billion outlay. First-quarter capex guidance also surpassed analyst projections, reflecting front-loaded spending on data centers, GPUs and AI research. Total expenses are expected to rise 43% to as much as $169 billion, including initiatives in Reality Labs, which posted a fourth-quarter loss exceeding $6 billion. CFO Susan Li highlighted that AI-driven ad targeting enhancements are already beginning to offset infrastructure costs.

Meta forecast first-quarter revenue of $53.5 billion to $56.5 billion, implying year-over-year growth of up to 33%. Wall Street analysts responded by raising their targets across the board: Wedbush lifted its fair value estimate to $900, Morgan Stanley to $825 and Jefferies to $1,000. All 24 analysts tracked by Visible Alpha maintain a buy rating. Mark Zuckerberg’s personal net worth rose by $22 billion to $251.7 billion following the earnings release, moving him past Jeff Bezos to rank fourth on Forbes’ Real-Time Billionaires List.