Meta Platforms, Inc. (NASDAQ:META) Q4 2023 Earnings Conference Call February 1, 2024 4:30 PM ET

Company Participants

Ken Dorell - Director, IR

Mark Zuckerberg - Founder, Chairman & CEO

Susan Li - CFO

Conference Call Participants

Brian Nowak - Morgan Stanley

Eric Sheridan - Goldman Sachs Group

Mark Shmulik - Sanford C. Bernstein & Co.

Justin Post - Bank of America Merrill Lynch

Ross Sandler - Barclays Bank

Doug Anmuth - JPMorgan Chase & Co.

Ronald Josey - Citigroup

Operator

Good afternoon. My name is Krista and I'll be your conference operator today. At this time, I would like to welcome everyone to the Meta Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions].

Ken Dorell, Meta's Director of Investor Relations, you may begin.

Ken Dorell

Thank you. Good afternoon and welcome to Meta Platform's Fourth Quarter and Full Year 2023 Earnings Conference Call. Joining me today to discuss our results are Mark Zuckerberg, CEO; and Susan Li, CFO.

Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in today's earnings press release and in our quarterly report on Form 10-Q filed with the SEC. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events.

During this call, we will present both GAAP and certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's earnings press release. The earnings press release and an accompanying investor presentation are available on our website at investor.fb.com.

And now I'd like to turn the call over to Mark.

Mark Zuckerberg

All right. Hi, everyone. Thanks for joining us. This was a good quarter, and it wrapped up an important year for our community and our company. We estimate that there are more than 3.1 billion people who use at least one of our apps each day. 2023 was our year of efficiency, which focused on making Meta a stronger technology company and improving our business to give us the stability to deliver our ambitious long-term vision for AI and the metaverse.

And last year, not only did we achieve our efficiency goals, but we returned to strong revenue growth, saw strong engagement across our apps; shipped a number of exciting new products like Threads, Ray-Ban Meta smart glasses and mixed reality in Quest 3; and of course, established a world-class AI effort that's going to be the foundation for many of our future products. I think that being a leaner company is helping us execute better and faster, and we will continue to carry these values forward as a permanent part of how we operate.