Facebook Inc (FB) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Meta Platforms, Inc.
Ticker: FB CIK: 1326801

Facebook Reports Fourth Quarter and Full Year 2017 Results

MENLO PARK, Calif. – January 31, 2018 – Facebook, Inc. (NASDAQ: FB) today reported financial results for the quarter and full year ended December 31, 2017.

"2017 was a strong year for Facebook, but it was also a hard one," said Mark Zuckerberg, Facebook founder and CEO. "In 2018, we're focused on making sure Facebook isn't just fun to use, but also good for people's well-being and for society. We're doing this by encouraging meaningful connections between people rather than passive consumption of content. Already last quarter, we made changes to show fewer viral videos to make sure people's time is well spent. In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day. By focusing on meaningful connections, our community and business will be stronger over the long term."

Fourth Quarter and Full Year 2017 Financial Highlights



	Three Months Ended December 31,						Year-over-Year % Change		Year Ended December 31,						Year-over-Year % Change
In millions, except percentages and per share amounts	2017			2016			Year-over-Year % Change		2017			2016			Year-over-Year % Change
Revenue:
Advertising	$	12,779		$	8,629		48	%	$	39,942		$	26,885		49	%
Payments and other fees	193			180			7	%	711			753			(6	)%
Total revenue	12,972			8,809			47	%	40,653			27,638			47	%
Total costs and expenses	5,620			4,243			32	%	20,450			15,211			34	%
Income from operations	$	7,352		$	4,566		61	%	$	20,203		$	12,427		63	%
Operating margin	57		%	52		%			50		%	45		%
Provision for income taxes⁽¹⁾	$	3,194							$	4,660
Effective tax rate⁽¹⁾	43		%						23		%
Net income⁽¹⁾	$	4,268		$	3,568		20	%	$	15,934		$	10,217		56	%
Diluted Earnings per Share (EPS)⁽¹⁾	$	1.44		$	1.21		19	%	$	5.39		$	3.49		54	%

(1) In December 2017, the 2017 Tax Cuts and Jobs Act was enacted and significantly impacted U.S. tax law. As a result of this legislation, our fourth quarter and full year 2017 provision for income taxes increased by $2.27 billion, which impacted our effective tax rate, net income and diluted EPS for such periods. Our diluted EPS decreased by $0.77 for both the fourth quarter and full year 2017. See "2017 Tax Cuts and Jobs Act" below for additional information.

Fourth Quarter and Full Year 2017 Operational and Other Financial Highlights


•	Daily active users (DAUs) – DAUs were 1.40 billion on average for December 2017, an increase of 14% year-over-year.


•	Monthly active users (MAUs) – MAUs were 2.13 billion as of December 31, 2017, an increase of 14% year-over-year.


•	Mobile advertising revenue – Mobile advertising revenue represented approximately 89% of advertising revenue for the fourth quarter of 2017, up from approximately 84% of advertising revenue in the fourth quarter of 2016.


•	Capital expenditures – Capital expenditures were $2.26 billion and $6.73 billion for the fourth quarter and full year 2017, respectively.


•	Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $41.71 billion at the end of the fourth quarter of 2017.


•	Headcount – Headcount was 25,105 as of December 31, 2017, an increase of 47% year-over-year.

The following information was filed by Meta Platforms, Inc. (FB) on Wednesday, January 31, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Meta Platforms, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Meta Platforms, Inc..

Continue

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/1326801/000132680118000009/fb-12312017x10k.htm