Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Meta Platforms Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	134,902)	116,609)	117,929)	85,965)	70,697)
Cost of revenue	(25,959)	(25,249)	(22,649)	(16,692)	(12,770)
Gross profit	108,943)	91,360)	95,280)	69,273)	57,927)
Research and development	(38,483)	(35,338)	(24,655)	(18,447)	(13,600)
Marketing and sales	(12,301)	(15,262)	(14,043)	(11,591)	(9,876)
General and administrative	(11,408)	(11,816)	(9,829)	(6,564)	(10,465)
Income from operations	46,751)	28,944)	46,753)	32,671)	23,986)
Interest income	1,639)	452)	476)	686)	924)
Interest expense	(446)	(176)	(15)	(14)	(20)
Foreign currency exchange losses, net	(366)	(81)	(140)	(129)	(105)
Other income (expense), net	(150)	(320)	210)	(34)	27)
Interest and other income (expense), net	677)	(125)	531)	509)	826)
Income before provision for income taxes	47,428)	28,819)	47,284)	33,180)	24,812)
Provision for income taxes	(8,330)	(5,619)	(7,914)	(4,034)	(6,327)
Net income	39,098)	23,200)	39,370)	29,146)	18,485)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Meta Platforms Inc. revenue decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Meta Platforms Inc. income from operations decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Income before provision for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Meta Platforms Inc. income before provision for income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Meta Platforms Inc. net income decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Meta Platforms Inc. (NASDAQ:META)

Income Statement