Meta Platforms, Inc. engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately. The Reality Labs segment provides augmented and virtual reality related products comprising consumer hardware, software, and content that help people feel connected, anytime, and anywhere. The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021. Meta Platforms, Inc. was incorporated in 2004 and is headquartered in Menlo Park, California.

Meta Platforms, Inc.

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Research and Development

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Marketing and Sales

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Net Income

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Less: Net Income Attributable to Participating Securities

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Net Income Attributable to Class a and Class B Common Stockholders

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Net Income Attributable to Minority Interests and Other

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EBIT

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Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	189,457	164,501	134,902	116,609	117,929	85,965	70,697	55,838	40,653	27,638	17,928
Total Revenues %Chg	21.3%	21.9%	15.7%	-1.1%	37.2%	21.6%	26.6%	37.4%	47.1%	54.2%	43.8%
Revenue
Cost of Sales	34,108	30,161	25,959	25,249	22,649	16,692	12,770	9,355	5,454	3,789	2,867
Cost of Revenue
Gross Profit	155,349	134,340	108,943	91,360	95,280	69,273	57,927	46,483	35,199	23,849	15,061
Gross Profit Margin	82%	81.7%	80.8%	78.3%	80.8%	80.6%	81.9%	83.2%	86.6%	86.3%	84%
Selling, General & Administrative Expenses	21,038	21,087	23,709	27,078	23,872	18,155	20,341	11,297	7,242	5,503	4,020
Marketing and Sales
General and Administrative
Research & Development Expenses	52,416	43,873	38,483	35,338	24,655	18,447	13,600	10,273	7,754	5,919	4,816
Research and Development
Operating Profit	81,895	69,380	46,751	28,944	46,753	32,671	23,986	24,913	20,203	12,427	6,225
Income from Operations
Operating Margin	43.2%	42.2%	34.7%	24.8%	39.6%	38%	33.9%	44.6%	49.7%	45%	34.7%
Interest Expense	—	—	—	—	—	—	—	—	—	—	—
Interest Expense
Non-Operating Income	2,236	1,283	677	-125	531	509	826	448	391	91	-31
Other Income (Expense), Net
Interest and Other Income, Net
Total Non-Operating Income	2,236	1,283	677	-125	531	509	826	448	391	91	-31
Income Before Provision for Income Taxes	84,131	70,663	47,428	28,819	47,284	33,180	24,812	25,361	20,594	12,518	6,194
Income Before Provision for Income Taxes
Provision for Income Taxes	25,603	8,303	8,330	5,619	7,914	4,034	6,327	3,249	4,660	2,301	2,506
Provision for Income Taxes
Consolidated Net Income	58,528	62,360	39,098	23,200	39,370	29,146	18,485	22,112	15,934	10,217	3,688
Net Income
Net Income Attributable to Minority Interests and Other	—	—	—	—	—	—	—	-1	-14	29	19
Less: Net Income Attributable to Participating Securities
Net Income Attributable to Common Shareholders	58,528	62,360	39,098	23,200	39,370	29,146	18,485	22,111	15,920	10,188	3,669
Net Income Attributable to Class a and Class B Common Stockholders
Basic EPS	23.2	24.6	15.2	8.6	14	10.2	6.5	7.7	5.5	3.6	1.3
Diluted EPS	22.6	23.9	14.9	8.6	13.8	10.1	6.4	7.6	5.4	3.5	1.3
Basic Weighted Average Shares Outstanding	2,522.8	2,534	2,574	2,687	2,815	2,851	2,854	2,890	2,901	2,863	2,803
Total Shares Outstanding	2,520.5	2,534	2,561	2,614	2,741	2,849	2,852	2,854	2,906	2,892	2,845
Diluted Weighted Average Shares Outstanding	2,582.8	2,614	2,629	2,702	2,859	2,888	2,876	2,921	2,956	2,925	2,853
EBITDA	99,560	84,878	57,929	37,630	54,720	39,533	29,727	29,228	23,228	14,769	8,170
Effective Tax Rate	30.4%	11.8%	17.6%	19.5%	16.7%	12.2%	25.5%	12.8%	22.6%	18.4%	40.5%