Meta Platforms, Inc (META) 10-Q Quarterly Report April 2022

"We made progress this quarter across a number of key company priorities and we remain confident in the long‑term opportunities and growth that our product roadmap will unlock," said Mark Zuckerberg, Meta founder and CEO. "More people use our services today than ever before, and I'm proud of how our products are serving people around the world."

First Quarter 2022 Financial Highlights


	Three Months Ended March 31,						Year-over-Year % Change
In millions, except percentages and per share amounts	2022			2021
Total revenue	$	27,908		$	26,171		7%
Total costs and expenses	19,384			14,793			31%
Income from operations	$	8,524		$	11,378		(25)%
Operating margin	31		%	43		%
Provision for income taxes	$	1,443		$	2,006		(28)%
Effective tax rate	16		%	17		%
Net income	$	7,465		$	9,497		(21)%
Diluted earnings per share (EPS)	$	2.72		$	3.30		(18)%

First Quarter 2022 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 2.87 billion on average for March 2022, an increase of 6% year-over-year.

•Family monthly active people (MAP) – MAP was 3.64 billion as of March 31, 2022, an increase of 6% year-over-year.

•Facebook daily active users (DAUs) – DAUs were 1.96 billion on average for March 2022, an increase of 4% year-over-year.

•Facebook monthly active users (MAUs) – MAUs were 2.94 billion as of March 31, 2022, an increase of 3% year-over-year.

•Ad impressions and price per ad – In the first quarter of 2022, ad impressions delivered across our Family of Apps increased by 15% year-over-year and the average price per ad decreased by 8% year-over-year.

•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $5.55 billion for the first quarter of 2022.

•Share repurchases – We repurchased $9.39 billion of our Class A common stock in the first quarter of 2022. As of March 31, 2022, we had $29.41 billion available and authorized for repurchases.

•Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $43.89 billion as of March 31, 2022.

•Headcount – Headcount was 77,805 as of March 31, 2022, an increase of 28% year-over-year.

The following information was filed by Meta Platforms, Inc (META) on Wednesday, April 27, 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-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 - Expense Highlight
The increase in loss from operations was primarily driven by increases in payroll and related expenses due to a growth in RL headcount, research and development expenses, and cost of consumer hardware products sold.

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.
Revenue - Geography Highlight
The decrease in average price per ad was primarily driven by an increasing proportion of the number of ads delivered in geographies and in products such as video and Stories that monetize at lower rates, as well as an unfavorable foreign exchange impact.
Other - Other Highlight
The increase in cash used in financing activities during the three months ended March 31, 2022, compared to the same period in 2021, was mostly due to an increase in repurchases of our Class A common stock.
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.
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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 10.2: Material Contract

Exhibit 10.3: 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: 0001326801-22-000057
Submitted to the SEC: Wed Apr 27 2022 8:42:59 PM EST
Accepted by the SEC: Thu Apr 28 2022
Period: Thursday, March 31, 2022
Industry: Computer Programming Data Processing

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