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Facebook Inc (FB) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Meta Platforms, Inc.

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CIK: 1625941 Ticker: META

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 amounts2021
2020(1)
Revenue:
Advertising$28,276 $21,221 33%
Other734 249 195%
Total revenue29,010 21,470 35%
Total costs and expenses18,587 13,430 38%
Income from operations$10,423 $8,040 30%
Operating margin36 %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.
1

The following information was filed by Meta Platforms, Inc (META) 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.

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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
Equity Investments (Details)
Equity Investments (Tables)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Assets Measured At Fair Value (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)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Revenue
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Segments And Geographical Information
Segments And Geographical Information (Tables)
Segments And Geographical Information - Narrative (Details)
Segments And Geographical Information - Property And Equipment, Net (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)

Material Contracts, Statements, Certifications & more

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

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: 0001326801-21-000065
Submitted to the SEC: Mon Oct 25 2021 8:44:20 PM EST
Accepted by the SEC: Tue Oct 26 2021
Period: Thursday, September 30, 2021
Industry: Computer Programming Data Processing

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