Meta Platforms, Inc (META) 10-K Annual Report February 2022

MENLO PARK, Calif. – February 2, 2022 – Meta Platforms, Inc. (Nasdaq: FB) today reported financial results for the quarter and full year ended December 31, 2021.

"We had a solid quarter as people turned to our products to stay connected and businesses continued to use our services to grow," said Mark Zuckerberg, Meta founder and CEO. "I'm encouraged by the progress we made this past year in a number of important growth areas like Reels, commerce, and virtual reality, and we'll continue investing in these and other key priorities in 2022 as we work towards building the metaverse."

Fourth Quarter and Full Year 2021 Financial Highlights


	Three Months Ended December 31,						Year-over-Year % Change		Year Ended December 31,						Year-over-Year % Change
In millions, except percentages and per share amounts	2021			2020					2021			2020
Total revenue	$	33,671		$	28,072		20	%	$	117,929		$	85,965		37	%
Total costs and expenses	21,086			15,297			38	%	71,176			53,294			34	%
Income from operations	$	12,585		$	12,775		(1)	%	$	46,753		$	32,671		43	%
Operating margin	37		%	46		%			40		%	38		%
Provision for income taxes	$	2,417		$	1,836		32	%	$	7,914		$	4,034		96	%
Effective tax rate	19		%	14		%			17		%	12		%
Net income	$	10,285		$	11,219		(8)	%	$	39,370		$	29,146		35	%
Diluted earnings per share (EPS)	$	3.67		$	3.88		(5)	%	$	13.77		$	10.09		36	%

Fourth Quarter and Full Year 2021 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 2.82 billion on average for December 2021, an increase of 8% year-over-year.

•Family monthly active people (MAP) – MAP was 3.59 billion as of December 31, 2021, an increase of 9% year-over-year.

•Facebook daily active users (DAUs) – DAUs were 1.93 billion on average for December 2021, an increase of 5% year-over-year.

•Facebook monthly active users (MAUs) – MAUs were 2.91 billion as of December 31, 2021, an increase of 4% year-over-year.

•Ad impressions and price per ad – In the fourth quarter of 2021, ad impressions delivered across our Family of Apps increased by 13% year-over-year and the average price per ad increased by 6% year-over-year. For the full year 2021, ad impressions increased by 10% year-over-year and the average price per ad increased by 24% year-over-year.

•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $5.54 billion and $19.24 billion for the fourth quarter and full year 2021, respectively.

•Share repurchases – We repurchased $19.18 billion and $44.81 billion of our Class A common stock in the fourth quarter and full year 2021, respectively. As of December 31, 2021, we had $38.79 billion available and authorized for repurchases.

•Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $48.0 billion as of December 31, 2021.

•Headcount – Headcount was 71,970 as of December 31, 2021, an increase of 23% year-over-year.

The following information was filed by Meta Platforms, Inc (META) on Wednesday, February 2, 2022 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.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/1326801/000132680122000018/fb-20211231.htm

View differences made from one year to another to evaluate Meta Platforms, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Meta Platforms, Inc..

Continue

Assess how Meta Platforms, Inc.'s management team is paid from their Annual Proxy

Meta Platforms, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

Legal

Other

Filter Subcategory:

All

Expense

Product

Cash Flow

Geography

Income

Other

Inside Meta Platforms, Inc.'s 10-K Annual Report:

Other - Other Highlight
The increase in cash used in financing activities during 2021 compared to 2020 was mostly due to the increase in repurchases of our Class A common stock.

Financial - Expense Highlight
In 2022, we also expect that our year-over-year total expense growth rates may significantly exceed our year-over-year revenue growth rates, which would adversely affect our operating margin and profitability.
Other - Other Highlight
We also continued to invest based on the following company priorities: (i) continue making progress on the major social issues facing the internet and our company, including privacy, safety, and security; (ii) build new experiences that meaningfully improve people's lives today and set the stage for even bigger improvements in the future; (iii) keep building our business by supporting the millions of businesses that rely on our services to grow and create jobs; and (iv) communicate more transparently about what we're doing and the role our services play in the world.
Revenue - Product Highlight
We may experience reduced advertising demand and related declines in pricing in future periods to the extent this trend continues, which could adversely affect our advertising revenue growth.
Revenue - Product Highlight
In 2021, we continued to focus on our main revenue growth priorities: (i) helping marketers use our products to connect with consumers where they are and (ii) making our ads more relevant and effective.
Financial - Expense
Allocation of purchase consideration to...Read more
Financial - Cash Flow
The increase in cash flow...Read more
Legal - Other
The requirements for complying with...Read more
Other - Other
Factors that could cause or...Read more
Other - Other
We believe that FCF is...Read more
Other - Other
The useful lives of our...Read more
Legal - Other
The increase was primarily due...Read more
Revenue - Product
Marketing and sales expenses consist...Read more
Other - Other
These measures may be different...Read more
Financial - Cash Flow
The qualitative assessment considers factors...Read more
Financial - Expense
Research and development expenses consist...Read more
Other - Other
In the second quarter of...Read more
Other - Other
In the second quarter of...Read more
Revenue - Geography
The mandatory capitalization requirement increases...Read more
Financial - Expense
In 2022, we plan to...Read more
Legal - Other
See Note 11 - Commitments...Read more
Other - Other
The impact from the changes...Read more
Financial - Shares
Share-based compensation expense included in...Read more
Other - Other
Therefore, if one or more...Read more
Revenue - Product
Other global and regional business...Read more
Other - Other
We review the developments in...Read more
Revenue - Product
For comparative purposes, amounts in...Read more
Revenue - Product
Reality Labs RL revenue increased...Read more
Financial - Income
To the extent that the...Read more
Financial - Expense
General and administrative General and...Read more
Other - Other
An accounting policy is deemed...Read more
Other - Other
Some of the limitations of...Read more
Revenue - Product
The increase was mostly driven...Read more
Financial - Expense
Significant estimates in valuing certain...Read more
Revenue - Product
We anticipate that future advertising...Read more
Financial - Income
FoA income from operations in...Read more
Other - Other
Our other liabilities also include...Read more
Other - Other
Although we believe that we...Read more
Revenue - Product
More recently, we believe this...Read more
Other - Other
The increase in average price...Read more
Financial - Income
See Note 11 - Commitments...Read more
Financial - Income
See Note 11 - Commitments...Read more
Financial - Shares
The accounting for share-based compensation...Read more
Revenue - Product
Our revenue and ARPU in...Read more
Revenue - Geography
In addition, we experienced year-over-year...Read more
Financial - Income
For comparative purposes, amounts in...Read more
Financial - Cash Flow
Should any of these estimates...Read more
Financial - Expense
The majority of the increases...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

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

Exhibit 3.3: Articles Of Incorporation

Exhibit 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 4.2: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.3: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

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-K Annual Report
Accession Number: 0001326801-22-000018
Submitted to the SEC: Wed Feb 02 2022 9:11:04 PM EST
Accepted by the SEC: Thu Feb 03 2022
Period: Friday, December 31, 2021
Industry: Computer Programming Data Processing

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/meta/0001326801-22-000018.htm

Meta Platforms, Inc. (FB) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

META Valuations

META Annual Reports

META Quarterly Reports

META Corporate News