Facebook Reports Third Quarter 2021 Results
Announces New Financial Reporting Segment Structure Beginning in Fourth Quarter 2021
MENLO PARK, Calif. – October 25, 2021 – Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter ended September 30, 2021.
"We made good progress this quarter and our community continues to grow," said Mark Zuckerberg, Facebook founder and CEO. "I'm excited about our roadmap, especially around creators, commerce, and helping to build the metaverse."
Third Quarter 2021 Financial Highlights
|Three Months Ended September 30,||Year-over-Year % Change|
|In millions, except percentages and per share amounts||2021|
|Advertising||$||28,276 ||$||21,221 ||33%|
|Other||734 ||249 ||195%|
|Total revenue||29,010 ||21,470 ||35%|
|Total costs and expenses||18,587 ||13,430 ||38%|
|Income from operations||$||10,423 ||$||8,040 ||30%|
|Operating margin||36 ||%||37 ||%|
|Provision for income taxes||$||1,371 ||$||287 ||378%|
|Effective tax rate ||13 ||%||4 ||%|
|Net income||$||9,194 ||$||7,846 ||17%|
|Diluted earnings per share (EPS)||$||3.22 ||$||2.71 ||19%|
(1) Our third quarter 2020 effective tax rate was 4%, which reflects a one-time income tax benefit of $913 million related to the effects of a tax election to capitalize and amortize certain research and development expenses for U.S. income tax purposes. Excluding this tax benefit, our effective tax rate would have been 11 percentage points higher and our diluted EPS would have been $0.31 lower.
Third Quarter 2021 Operational and Other Financial Highlights
•Facebook daily active users (DAUs) – DAUs were 1.93 billion on average for September 2021, an increase of 6% year-over-year.
•Facebook monthly active users (MAUs) – MAUs were 2.91 billion as of September 30, 2021, an increase of 6% year-over-year.
•Family daily active people (DAP) – DAP was 2.81 billion on average for September 2021, an increase of 11% year-over-year.
•Family monthly active people (MAP) – MAP was 3.58 billion as of September 30, 2021, an increase of 12% year-over-year.
•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $4.54 billion for the third quarter of 2021.
•Share repurchases – We repurchased $14.37 billion of our Class A common stock in the third quarter and had $7.97 billion remaining on our prior share repurchase authorization as of September 30, 2021. We also announced today a $50 billion increase in our share repurchase authorization.
•Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $58.08 billion as of September 30, 2021.
•Headcount – Headcount was 68,177 as of September 30, 2021, an increase of 20% year-over-year.
The following information was filed by Meta Platforms, Inc. (FB) on Monday, October 25, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.