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

"It was good to see positive trajectory on our engagement trends this quarter coming from products like Reels and our investments in AI," said Mark Zuckerberg, Meta founder and CEO. "We're putting increased energy and focus around our key company priorities that unlock both near and long term opportunities for Meta and the people and businesses that use our services."

Second Quarter 2022 Financial Highlights


	Three Months Ended June 30,						% Change
In millions, except percentages and per share amounts	2022			2021
Total revenue	$	28,822		$	29,077		(1)%
Total costs and expenses	20,464			16,710			22%
Income from operations	$	8,358		$	12,367		(32)%
Operating margin	29		%	43		%
Provision for income taxes	$	1,499		$	2,119		(29)%
Effective tax rate	18		%	17		%
Net income	$	6,687		$	10,394		(36)%
Diluted earnings per share (EPS)	$	2.46		$	3.61		(32)%

Second Quarter 2022 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 2.88 billion on average for June 2022, an increase of 4% year-over-year.

•Family monthly active people (MAP) – MAP was 3.65 billion as of June 30, 2022, an increase of 4% year-over-year.

•Facebook daily active users (DAUs) – DAUs were 1.97 billion on average for June 2022, an increase of 3% year-over-year.

•Facebook monthly active users (MAUs) – MAUs were 2.93 billion as of June 30, 2022, an increase of 1% year-over-year.

•Ad impressions and price per ad – In the second 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 14% year-over-year.

•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $7.75 billion for the second quarter of 2022.

•Share repurchases – We repurchased $5.08 billion of our Class A common stock in the second quarter of 2022. As of June 30, 2022, we had $24.32 billion available and authorized for repurchases.

•Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $40.49 billion as of June 30, 2022.

•Headcount – Headcount was 83,553 as of June 30, 2022, an increase of 32% year-over-year.

The following information was filed by Meta Platforms, Inc (META) on Wednesday, July 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:

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.

Revenue - Geography Highlight
The decreases in average price per ad were driven by a reduction in advertising demand, an increasing proportion of the number of ads delivered in geographies and in products such as video and Reels that monetize at lower rates, and an unfavorable foreign exchange impact.
Other - Other Highlight
The increase in cash used in financing activities during the six months ended June 30, 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.
Revenue - Product Highlight
In the second quarter of 2022, we continued to focus on our main revenue growth priorities: (i) helping marketers use our products to connect with consumers and (ii) making our ads more relevant and effective.
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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 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: 0001326801-22-000082
Submitted to the SEC: Wed Jul 27 2022 8:44:34 PM EST
Accepted by the SEC: Thu Jul 28 2022
Period: Thursday, June 30, 2022
Industry: Computer Programming Data Processing

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Meta Platforms, Inc. (META) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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