Meta Platforms(US:META)2024-07-31 21:09Financial Performance - Meta's total revenue for Q2 2024 was $39071 million[7] - Advertising revenue reached $38329 million in Q2 2024[7] - Family of Apps (FoA) revenue was $38718 million in Q2 2024[7] - Reality Labs (RL) revenue was $353 million in Q2 2024[7] - Income from Operations totaled $14847 million, resulting in a 38% operating margin for Q2 2024[8] Segments - Family of Apps (FoA) operating income was $19335 million in Q2 2024[8] - Reality Labs (RL) experienced an operating loss of $4488 million in Q2 2024[8] Tax - The effective tax rate was 11% for Q2 2024[12] - Provision for income taxes was $1641 million in Q2 2024[12] User Metrics - The company updated Family metrics calculations in Q3 2022, contributing approximately 30 million DAP to worldwide DAP in September 2022[23] - Beginning in Q4 2023, Family metrics no longer include Messenger Kids users[23] - In Q1 2024, the company estimated that less than 3% of worldwide DAP consisted solely of violating accounts[47] Cash Flow - Free Cash Flow was $10898 million in Q2 2024[41]