Meta Platforms, Inc (META) 10-Q Quarterly Report April 2021

"We had a strong quarter as we helped people stay connected and businesses grow," said Mark Zuckerberg, Facebook founder and CEO. "We will continue to invest aggressively to deliver new and meaningful experiences for years to come, including in newer areas like augmented and virtual reality, commerce, and the creator economy."

First Quarter 2021 Financial Highlights


	Three Months Ended March 31,						Year-over-Year % Change
In millions, except percentages and per share amounts	2021			2020
Revenue:
Advertising	$	25,439		$	17,440		46%
Other	732			297			146%
Total revenue	26,171			17,737			48%
Total costs and expenses	14,793			11,844			25%
Income from operations	$	11,378		$	5,893		93%
Operating margin	43		%	33		%
Provision for income taxes	$	2,006		$	959		109%
Effective tax rate	17		%	16		%
Net income	$	9,497		$	4,902		94%
Diluted earnings per share (EPS)	$	3.30		$	1.71		93%

First Quarter 2021 Operational and Other Financial Highlights

•Facebook daily active users (DAUs) – DAUs were 1.88 billion on average for March 2021, an increase of 8% year-over-year.

•Facebook monthly active users (MAUs) – MAUs were 2.85 billion as of March 31, 2021, an increase of 10% year-over-year.

•Family daily active people (DAP) – DAP was 2.72 billion on average for March 2021, an increase of 15% year-over-year.

•Family monthly active people (MAP) – MAP was 3.45 billion as of March 31, 2021, an increase of 15% year-over-year.

•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $4.42 billion for the first quarter of 2021.

•Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $64.22 billion as of March 31, 2021.

•Headcount – Headcount was 60,654 as of March 31, 2021, an increase of 26% year-over-year.

The following information was filed by Meta Platforms, Inc (META) on Wednesday, April 28, 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.

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

Financial - Shares Highlight
The increase was mostly due to $12.24 billion of cash generated from operations, offset by $4.42 billion for capital expenditures, including principal payments on finance leases, $3.94 billion for repurchases of our Class A common stock, $1.08 billion of taxes paid related to net share settlement of employee restricted stock unit (RSU) awards and $600 million of net purchases of marketable securities.

Revenue - Geography Highlight
The increase was due to a decrease in foreign currency exchange losses as a result of foreign currency transactions and re-measurement and an increase in other income due to net unrealized gains related to our equity investments, partially offset by a decrease in interest income related to lower interest rates compared to the same period in 2020.
Financial - Expense Highlight
The increase was mostly due to an increase in operational expenses related to our data centers and technical infrastructure, an increase in cost of consumer hardware products sold and, to a lesser extent, higher cost associated with partner arrangements, including traffic acquisition and payment processing costs.
Other - Other Highlight
The increase in cash used in financing activities during the three months ended March 31, 2021, compared to the same period in 2020, was primarily due to an increase in repurchases of our Class A common stock.
Revenue - Product Highlight
Financial results: Revenue was $26.17 billion, up 48% year-over-year, and advertising revenue was $25.44 billion, up 46% year-over-year.
Other - Other
We have also continued to...Read more
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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Meta Platforms, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 10.2: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: META
CIK: 1326801
Form Type: 10-Q Quarterly Report
Accession Number: 0001326801-21-000033
Submitted to the SEC: Wed Apr 28 2021 8:12:05 PM EST
Accepted by the SEC: Thu Apr 29 2021
Period: Wednesday, March 31, 2021
Industry: Computer Programming Data Processing

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