Meta Platforms — Jan 29, 2025 release

We expect capital expenditures growth in 2025 will be driven by increased investment to support both our generative AI efforts and core business. The majority of our capital expenditures in 2025 will continue to be directed to our core business. Absent any changes to our tax landscape, we expect our full year 2025 tax rate to be in the range of 12-15%. In addition, we continue to monitor an active regulatory landscape, including legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results. ____________________________________ (1) In January 2025, we completed an assessment of the useful lives of certain servers and network assets, which resulted in an increase in their estimated useful life to 5.5 years, effective beginning fiscal year 2025. Based on the servers and network assets placed in service as of December 31, 2024, we expect this change in accounting estimate will reduce our full year 2025 depreciation expense by approximately $2.9 billion. This is factored into our outlook. 2 Webcast and Conference Call Information Meta will host a conference call to discuss the results at 2:00 p.m. PT / 5:00 p.m. ET today. The live webcast of Meta's earnings conference call can be accessed at the Meta Investor Relations website at investor.atmeta.com, along with the earnings press release, financial tables, and slide presentation. Following the call, a replay will be available at the same website. Transcripts of conference calls with publishing equity research analysts he