Meta Reports Second Quarter 2022 Results
Announces Plans for Chief Financial Officer Transition and Chief Strategy Officer Appointment
MENLO PARK, Calif. – July 27, 2022 – Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended June 30, 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.