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Facebook Inc (FB) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Meta Platforms, Inc.

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CIK: 1625941 Ticker: META
Facebook Reports Third Quarter 2020 Results

MENLO PARK, Calif. – October 29, 2020 – Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter ended September 30, 2020.

"We had a strong quarter as people and businesses continue to rely on our services to stay connected and create economic opportunity during these tough times," said Mark Zuckerberg, Facebook founder and CEO. "We continue to make significant investments in our products and hiring in order to deliver new and meaningful experiences for our community around the world."

Third Quarter 2020 Financial Highlights
 
Three Months Ended September 30,
 
Year-over-Year % Change
In millions, except percentages and per share amounts
2020(1)
 
2019 
 
Revenue:
 
 
 
 
 
Advertising
$
21,221

 
$
17,383

 
22%
Other
249

 
269

 
(7)%
Total revenue
21,470

 
17,652

 
22%
Total costs and expenses
13,430

 
10,467

 
28%
Income from operations
$
8,040

 
$
7,185

 
12%
Operating margin
37
%
 
41
%
 

Provision for income taxes
$
287

 
$
1,238

 
(77)%
Effective tax rate
4
%
 
17
%
 

Net income
$
7,846

 
$
6,091

 
29%
Diluted earnings per share (EPS)
$
2.71

 
$
2.12

 
28%
_________________________
(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 2020 Operational and Other Financial Highlights

•
Facebook daily active users (DAUs) – DAUs were 1.82 billion on average for September 2020, an increase of 12% year-over-year.
•
Facebook monthly active users (MAUs) – MAUs were 2.74 billion as of September 30, 2020, an increase of 12% year-over-year.
•
Family daily active people (DAP) – DAP was 2.54 billion on average for September 2020, an increase of 15% year-over-year.
•
Family monthly active people (MAP) – MAP was 3.21 billion as of September 30, 2020, an increase of 14% year-over-year.
•
Capital expenditures – Capital expenditures, including principal payments on finance leases, were $3.88 billion for the third quarter of 2020.
•
Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $55.62 billion as of September 30, 2020.
•
Headcount – Headcount was 56,653 as of September 30, 2020, an increase of 32% year-over-year.




1

The following information was filed by Meta Platforms, Inc (META) on Thursday, October 29, 2020 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.

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Inside Meta Platforms, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Condensed Consolidated Statements Of Stockholders' Equity
Cash And Cash Equivalents, And Marketable Securities
Cash And Cash Equivalents, And Marketable Securities (Tables)
Cash And Cash Equivalents, And Marketable Securities - Breakout Of Cash, Cash Equivalents And Marketable Securities (Details)
Cash And Cash Equivalents, And Marketable Securities - Contractual Maturities Of Marketable Debt Securities (Details)
Cash And Cash Equivalents, And Marketable Securities - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Basic And Diluted Eps (Details)
Equity Investments (Details)
Equity Investments (Notes)
Equity Investments (Tables)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Assets Measured At Fair Value (Details)
Fair Value Measurement - Narrative (Details)
Geographical Information
Geographical Information (Tables)
Geographical Information - Property And Equipment, Net (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Change In Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Estimated Amortization Expense (Details)
Goodwill And Intangible Assets - Intangible Assets (Detail)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Cost (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Cash Flow (Details)
Long-Term Debt
Long-Term Debt - Narrative (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Revenue
Revenue (Tables)
Revenue Deferred Revenue And Deposits (Details)
Revenue Disaggregation Of Revenue (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Award Disclosures (Details)
Stockholders' Equity - Restricted Stock Units (Details)
Stockholders' Equity - Share Repurchase Program (Details)
Stockholders' Equity - Share-Based Compensation Plans (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: META
CIK: 1326801
Form Type: 10-Q Quarterly Report
Accession Number: 0001326801-20-000084
Submitted to the SEC: Thu Oct 29 2020 9:29:56 PM EST
Accepted by the SEC: Fri Oct 30 2020
Period: Wednesday, September 30, 2020
Industry: Computer Programming Data Processing

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