Facebook Reports Fourth Quarter and Full Year 2020 Results

MENLO PARK, Calif. – January 27, 2021 – Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter and full year ended December 31, 2020.

"We had a strong end to the year as people and businesses continued to use our services during these challenging times," said Mark Zuckerberg, Facebook founder and CEO. "I'm excited about our product roadmap for 2021 as we build new and meaningful ways to create economic opportunity, build community and help people just have fun."

Fourth Quarter and Full Year 2020 Financial Highlights
Three Months Ended December 31,Year-over-Year % ChangeYear Ended December 31,Year-over-Year % Change
In millions, except percentages and per share amounts2020201920202019
Revenue:
Advertising$27,187 $20,736 31%$84,169 $69,655 21%
Other885 346 156%1,796 1,042 72%
Total revenue28,072 21,082 33%85,965 70,697 22%
Total costs and expenses15,297 12,224 25%53,294 46,711 14%
Income from operations$12,775 $8,858 44%$32,671 $23,986 36%
Operating margin46 %42 %38 %34 %
Provision for income taxes$1,836 $1,820 1%$4,034 $6,327 (36)%
Effective tax rate 14 %20 %12 %25 %
Net income$11,219 $7,349 53%$29,146 $18,485 58%
Diluted earnings per share (EPS)$3.88 $2.56 52%$10.09 $6.43 57%

Fourth Quarter and Full Year 2020 Operational and Other Financial Highlights

Facebook daily active users (DAUs) – DAUs were 1.84 billion on average for December 2020, an increase of 11% year-over-year.
Facebook monthly active users (MAUs) – MAUs were 2.80 billion as of December 31, 2020, an increase of 12% year-over-year.
Family daily active people (DAP) – DAP was 2.60 billion on average for December 2020, an increase of 15% year-over-year.
Family monthly active people (MAP) – MAP was 3.30 billion as of December 31, 2020, an increase of 14% year-over-year.
Capital expenditures – Capital expenditures, including principal payments on finance leases, were $4.82 billion and $15.72 billion for the fourth quarter and full year of 2020, respectively.
Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $61.95 billion as of December 31, 2020.
Headcount – Headcount was 58,604 as of December 31, 2020, an increase of 30% year-over-year.

In January 2021, the Board of Directors authorized incremental share repurchases of up to an additional $25 billion of our shares of Class A common stock. This authorization is in addition to the previously authorized repurchases of up to $34 billion of our shares of Class A common stock. As of the end of 2020, $8.6 billion remained on the previous share repurchase authorization.
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The following information was filed by Facebook Inc (FB) on Wednesday, January 27, 2021 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.

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