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Meta Platforms Rides on Expanding User Base: A Sign of More Upside?

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Key Takeaways

  • Meta Platforms' DAP hit 3.48B in Q2 2025, up 6.4% year over year, with growth expected to continue.
  • AI integration, new editing tools, and safety upgrades across apps are driving engagement and ad revenues.
  • META's 2025 ad revenues are pegged at $190.29B, up 18.5% from 2024, with total revenues seen rising 18.3%.

Meta Platforms (META - Free Report) is benefiting from an expanding user base. In second-quarter 2025, Family Daily Active People or DAP, defined as a registered and logged-in user who visited at least one of the Family products (Facebook, Instagram, Messenger and/or WhatsApp) on a given day, was 3.48 billion, up 6.4% year over year. Per our model, DAP is expected to increase 6.6% year over year to 3.57 billion in 2025.

User base is expected to continue to increase courtesy of META’s initiatives to boost engagement and enhanced safety measures. AI push is helping Meta Platforms offer content that is interesting and useful, eventually driving engagement. The company’s focus on integrating AI into its platforms — Facebook, WhatsApp, Instagram, Messenger and Threads — is driving user engagement to boost ad revenues. The launch of AI video editing tools across Meta AI and the new Edits app are noteworthy developments.

Meta Platforms’ focus on enhancing safety for WhatsApp users is noteworthy. Safety features now allow WhatsApp users to review details, leave quietly, or mute notifications when a new contact adds the user to an unknown group. For individual WhatsApp chats, Meta Platforms is testing warnings when users message someone outside their contacts. META has been taking steps to protect Teen Accounts by adding new safety features to DMs. 

These factors are expected to drive advertising revenues and total revenues. Our model estimate for 2025 advertising revenues is currently pegged at $190.29 billion, indicating 18.5% growth over the figure reported in 2024. Our model estimate for 2025 total revenues is currently pegged at $194.66 billion, indicating 18.3% growth over the figure reported in 2024.

META Faces Tough Competition for Advertising Dollars

Meta Platforms is facing tough competition from the likes of Alphabet (GOOGL - Free Report) and Amazon (AMZN - Free Report) for advertising dollars.

Alphabet is leveraging AI to boost search dominance with the launch of Gemini 2.5. Search revenues are driven by improving engagement with features like AI Overview, which now has 2 billion users per month and is available in more than 40 languages across 200 countries. Alphabet is advancing visual and contextual search capabilities. The Circle to Search feature is now active on more than 300 million devices.

Amazon’s advertising business is noteworthy. Amazon’s ability to harness its vast retail media presence, proprietary shopping data and expanding connected TV (CTV) footprint is a key catalyst. The global rollout of Prime Video ads adds a high-value, premium channel that may lift revenues. Amazon’s ad ecosystem reaches over 300 million ad-supported users in the United States alone, spanning retail, Prime Video, Twitch and Fire TV.

META’s Share Price Performance, Valuation & Estimates

Meta Platforms’ shares have jumped 27.6% year to date, outperforming the broader Zacks Computer and Technology sector’s return of 12.9% and the Zacks Internet Software industry’s appreciation of 18.8%.

META’s Stock Performance

 

Zacks Investment Research
Image Source: Zacks Investment Research

 

Meta Platforms’ stock is trading at a premium, with a forward 12-month Price/Sales of 8.69X compared with the broader sector’s 6.67X. META has a Value Score of D.

 

META Valuation

 

Zacks Investment Research
Image Source: Zacks Investment Research

 

The Zacks Consensus Estimate for 2025 earnings is pegged at $28.13 per share, up 9.4% over the past 30 days, suggesting 18% year-over-year growth.
 

 

 

Meta Platforms currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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