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

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CIK: 1625941 Ticker: META

Meta Reports Third Quarter 2022 Results


MENLO PARK, Calif. – October 26, 2022 – Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2022.

"Our community continues to grow and I'm pleased with the strong engagement we're seeing driven by progress on our discovery engine and products like Reels," said Mark Zuckerberg, Meta founder and CEO. "While we face near-term challenges on revenue, the fundamentals are there for a return to stronger revenue growth. We're approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company."

Third Quarter 2022 Financial Highlights
Three Months Ended September 30,% Change
In millions, except percentages and per share amounts20222021
Revenue$27,714 $29,010 (4)%
Costs and expenses22,050 18,587 19%
Income from operations$5,664 $10,423 (46)%
Operating margin20 %36 %
Provision for income taxes$1,181 $1,371 (14)%
Effective tax rate 21 %13 %
Net income$4,395 $9,194 (52)%
Diluted earnings per share (EPS)$1.64 $3.22 (49)%

Third Quarter 2022 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 2.93 billion on average for September 2022, an increase of 4% year-over-year.
•Family monthly active people (MAP) – MAP was 3.71 billion as of September 30, 2022, an increase of 4% year-over-year.
•Facebook daily active users (DAUs) – DAUs were 1.98 billion on average for September 2022, an increase of 3% year-over-year.
•Facebook monthly active users (MAUs) – MAUs were 2.96 billion as of September 30, 2022, an increase of 2% year-over-year.
•Ad impressions and price per ad – In the third quarter of 2022, ad impressions delivered across our Family of Apps increased by 17% year-over-year and the average price per ad decreased by 18% year-over-year.
•Revenue – Revenue was $27.71 billion, a decrease of 4% year-over-year, and an increase of 2% year-over-year on a constant currency basis. Had foreign exchange rates remained constant with the third quarter of 2021, revenue would have been $1.79 billion higher.
•Costs and expenses – Total costs and expenses were $22.05 billion, an increase of 19% year-over-year. This includes an impairment loss of $413 million for certain operating leases as part of our ongoing work to align our office facilities footprint with our anticipated operating needs.
•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $9.52 billion for the third quarter of 2022.
•Share repurchases – We repurchased $6.55 billion of our Class A common stock in the third quarter of 2022. As of September 30, 2022, we had $17.78 billion available and authorized for repurchases.
•Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $41.78 billion as of September 30, 2022.
•Long-term debt – Long-term debt was $9.92 billion as of September 30, 2022.
•Headcount – Headcount was 87,314 as of September 30, 2022, an increase of 28% year-over-year.
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The following information was filed by Meta Platforms, Inc (META) on Wednesday, October 26, 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 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
Acquisitions, Goodwill, And Intangible Assets
Acquisitions, Goodwill, And Intangible Assets (Tables)
Acquisitions, Goodwill, And Intangible Assets - Change In Carrying Amount Of Goodwill (Details)
Acquisitions, Goodwill, And Intangible Assets - Estimated Amortization Expense (Details)
Acquisitions, Goodwill, And Intangible Assets - Intangible Assets (Detail)
Acquisitions, Goodwill, And Intangible Assets - Narrative (Details)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash (Tables)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash - Available-For-Sale Marketable Securities (Details)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash - Breakout Of Cash, Cash Equivalents And Marketable Securities (Details)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash - Contractual Maturities Of Marketable Debt Securities (Details)
Cash, Cash Equivalents, Marketable Securities, And Restricted Cash - Narrative (Details)
Commitment And Contingencies (Tables)
Commitments And Contingencies
Commitments And Contingencies - Contractual Commitments (Details)
Commitments And Contingencies - Narrative (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Basic And Diluted Eps (Details)
Earnings Per Share - Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets Measured At Fair Value (Details)
Fair Value Measurements - Narrative (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Cost (Details)
Leases - Lease, Balance Sheet Information (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Cash Flow (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments (Details)
Long-Term Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Non-Marketable Equity Securities
Non-Marketable Equity Securities (Tables)
Non-Marketable Equity Securities - Carrying Value Of Equity Investments (Details)
Non-Marketable Equity Securities - Narrative (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Narrative (Details)
Property And Equipment - Summary (Details)
Revenue
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Segment And Geographical Information
Segment And Geographical Information (Tables)
Segment And Geographical Information - Narrative (Details)
Segment And Geographical Information - Property And Equipment, Net (Details)
Segment And Geographical Information - Segment Information Of Revenue And Income (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: 0001326801-22-000108
Submitted to the SEC: Wed Oct 26 2022 8:26:36 PM EST
Accepted by the SEC: Thu Oct 27 2022
Period: Friday, September 30, 2022
Industry: Computer Programming Data Processing

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