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Meta Platforms, Inc. (META) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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CIK: 1326801 Ticker: META


Meta Reports Fourth Quarter and Full Year 2022 Results

MENLO PARK, Calif. – February 1, 2023 – Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter and full year ended December 31, 2022.

"Our community continues to grow and I'm pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives," said Mark Zuckerberg, Meta founder and CEO. "The progress we're making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization."

Fourth Quarter and Full Year 2022 Financial Highlights
Three Months Ended December 31, % ChangeYear Ended December 31,% Change
In millions, except percentages and per share amounts2022202120222021
Revenue$32,165 $33,671 (4)%$116,609 $117,929 (1)%
Costs and expenses25,766 21,086 22 %87,665 71,176 23 %
Income from operations$6,399 $12,585 (49)%$28,944 $46,753 (38)%
Operating margin20 %37 %25 %40 %
Provision for income taxes$1,497 $2,417 (38)%$5,619 $7,914 (29)%
Effective tax rate24 %19 %19 %17 %
Net income$4,652 $10,285 (55)%$23,200 $39,370 (41)%
Diluted earnings per share (EPS)$1.76 $3.67 (52)%$8.59 $13.77 (38)%

Fourth Quarter and Full Year 2022 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 2.96 billion on average for December 2022, an increase of 5% year-over-year.
•Family monthly active people (MAP) – MAP was 3.74 billion as of December 31, 2022, an increase of 4% year-over-year.
•Facebook daily active users (DAUs) – DAUs were 2.00 billion on average for December 2022, an increase of 4% year-over-year.
•Facebook monthly active users (MAUs) – MAUs were 2.96 billion as of December 31, 2022, an increase of 2% year-over-year.
•Ad impressions and price per ad – In the fourth quarter of 2022, ad impressions delivered across our Family of Apps increased by 23% year-over-year and the average price per ad decreased by 22% year-over-year. For the full year 2022, ad impressions increased by 18% year-over-year and the average price per ad decreased by 16% year-over-year.
•Revenue – Revenue was $32.17 billion and $116.61 billion, a decrease of 4% and 1% year-over-year for the fourth quarter and full year 2022, respectively. Had foreign exchange rates remained constant with the same periods of 2021, revenue would have been $2.01 billion and $5.96 billion higher, an increase of 2% and 4% on a constant currency basis for the fourth quarter and full year 2022, respectively.
•Costs and expenses – Total costs and expenses were $25.77 billion and $87.66 billion, an increase of 22% and 23% year-over-year for the fourth quarter and full year 2022, respectively. This includes charges related to our restructuring efforts of $4.20 billion and $4.61 billion in the fourth quarter and full year 2022, respectively.
•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $9.22 billion and $32.04 billion for the fourth quarter and full year 2022, respectively.
•Share repurchases – We repurchased $6.91 billion and $27.93 billion of our Class A common stock in the fourth quarter and full year 2022, respectively. As of December 31, 2022, we had $10.87 billion available and authorized for repurchases. We also announced today a $40 billion increase in our share repurchase authorization.
•Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $40.74 billion as of December 31, 2022.
•Long-term debt – Long-term debt was $9.92 billion as of December 31, 2022.
•Headcount – Headcount was 86,482 as of December 31, 2022, an increase of 20% year-over-year. Our reported headcount includes a substantial majority of the approximately 11,000 employees impacted by the layoff we announced in November 2022, who will no longer be reflected in our headcount by the end of the first quarter of 2023.

1

The following information was filed by Meta Platforms, Inc (META) on Wednesday, February 1, 2023 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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Inside Meta Platforms, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Acquisitions, Goodwill, And Intangible Assets
Acquisitions, Goodwill, And Intangible Assets (Tables)
Acquisitions, Goodwill, And Intangible Assets - Narrative (Details)
Acquisitions, Goodwill, And Intangible Assets - Schedule Of Amortization Expense (Details)
Acquisitions, Goodwill, And Intangible Assets - Schedule Of Change In Goodwill (Details)
Acquisitions, Goodwill, And Intangible Assets - Schedule Of Intangible Assets (Details)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash (Tables)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash - Available-For-Sale Marketable Securities (Details)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash - Schedule Of Cash And Cash Equivalents And Marketable Securities (Details)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash - Schedule Of Contractual Maturities Of Debt Securities (Details)
Commitment And Contingencies (Tables)
Commitments And Contingencies
Commitments And Contingencies - Contractual Commitments (Details)
Commitments And Contingencies - Narrative (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Schedule Of Numerators And Denominators Of Basic And Diluted Eps Computations For Common Stock (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets Measured At Fair Value (Details)
Fair Value Measurements - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule For Income Before Income Tax (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Schedule Of Provision For Income Taxes (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits (Details)
Interest And Other Income (Expense), Net
Interest And Other Income (Expense), Net (Details)
Interest And Other Income (Expense), Net (Tables)
Leases
Leases (Tables)
Leases - Components Of Lease Cost And Supplementary Info (Details)
Leases - Lease, Balance Sheet Information (Details)
Leases - Narrative (Details)
Leases - Schedule Of Maturities Of Lease Liabilities (Details)
Leases - Schedule Of Supplemental Cash Flow (Details)
Liabilities
Liabilities (Tables)
Liabilities - Schedule Of Accrued Expenses And Other Current Liabilities (Details)
Liabilities - Schedule Of Other Liabilities (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments (Details)
Long-Term Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Non-Marketable Equity Securities
Non-Marketable Equity Securities (Tables)
Non-Marketable Equity Securities - Carrying Value Of Equity Investments (Details)
Non-Marketable Equity Securities - Narrative (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Narrative (Details)
Property And Equipment - Schedule Of Property And Equipment (Details)
Restructuring
Restructuring (Tables)
Restructuring - Changes In The Liabilities Related To Workforce Reduction (Details)
Restructuring - Narrative (Details)
Restructuring - Restructuring And Related Costs (Details)
Revenue
Revenue (Tables)
Revenue - Narrative (Details)
Revenue - Schedule Of Disaggregation Of Revenue (Details)
Segment And Geographical Information
Segment And Geographical Information (Tables)
Segment And Geographical Information - Narrative (Details)
Segment And Geographical Information - Schedule Of Property And Equipment (Details)
Segment And Geographical Information - Segment Revenue And Income For Operations (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Award Disclosures Narrative (Details)
Stockholders' Equity - Common Stock Narrative (Details)
Stockholders' Equity - Rsu Award Activity (Details)
Stockholders' Equity - Share Repurchase Program Narrative (Details)
Stockholders' Equity - Share-Based Compensation Plans Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Estimated Useful Lives Of Property And Equipment (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Ticker: META
CIK: 1326801
Form Type: 10-K Annual Report
Accession Number: 0001326801-23-000013
Submitted to the SEC: Wed Feb 01 2023 8:26:31 PM EST
Accepted by the SEC: Thu Feb 02 2023
Period: Saturday, December 31, 2022
Industry: Computer Programming Data Processing

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