Stock Analysis on Net
Stock Analysis on Net

Meta Platforms Inc. (NASDAQ:META)

Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Revenue 40,589 39,071 36,455 40,112 34,146 31,999 28,645 32,165 27,714 28,822 27,908 33,671 29,010 29,077 26,171 28,071 21,470 18,687 17,737 21,082 17,652 16,886 15,077
Cost of revenue (7,375) (7,308) (6,640) (7,696) (6,210) (5,945) (6,108) (8,336) (5,716) (5,192) (6,005) (6,348) (5,771) (5,399) (5,131) (5,210) (4,194) (3,829) (3,459) (3,492) (3,155) (3,307) (2,816)
Gross profit 33,214 31,763 29,815 32,416 27,936 26,054 22,537 23,829 21,998 23,630 21,903 27,323 23,239 23,678 21,040 22,861 17,276 14,858 14,278 17,590 14,497 13,579 12,261
Research and development (11,177) (10,537) (9,978) (10,517) (9,241) (9,344) (9,381) (9,771) (9,170) (8,690) (7,707) (7,046) (6,316) (6,096) (5,197) (5,207) (4,763) (4,462) (4,015) (3,877) (3,548) (3,315) (2,860)
Marketing and sales (2,822) (2,721) (2,564) (3,226) (2,877) (3,154) (3,044) (4,575) (3,780) (3,595) (3,312) (4,387) (3,554) (3,259) (2,843) (3,281) (2,683) (2,840) (2,787) (3,026) (2,416) (2,414) (2,020)
General and administrative (1,865) (3,658) (3,455) (2,289) (2,070) (4,164) (2,885) (3,085) (3,384) (2,987) (2,360) (3,305) (2,946) (1,956) (1,622) (1,598) (1,790) (1,593) (1,583) (1,829) (1,348) (3,224) (4,064)
Income from operations 17,350 14,847 13,818 16,384 13,748 9,392 7,227 6,398 5,664 8,358 8,524 12,585 10,423 12,367 11,378 12,775 8,040 5,963 5,893 8,858 7,185 4,626 3,317
Interest and other income (expense), net 472 259 365 424 272 (99) 80 (249) (88) (172) 384 118 142 146 125 280 93 168 (32) 311 144 206 165
Income before provision for income taxes 17,822 15,106 14,183 16,808 14,020 9,293 7,307 6,149 5,576 8,186 8,908 12,703 10,565 12,513 11,503 13,055 8,133 6,131 5,861 9,169 7,329 4,832 3,482
Provision for income taxes (2,134) (1,641) (1,814) (2,790) (2,437) (1,505) (1,598) (1,496) (1,181) (1,499) (1,443) (2,418) (1,371) (2,119) (2,006) (1,835) (287) (953) (959) (1,820) (1,238) (2,216) (1,053)
Net income 15,688 13,465 12,369 14,018 11,583 7,788 5,709 4,653 4,395 6,687 7,465 10,285 9,194 10,394 9,497 11,220 7,846 5,178 4,902 7,349 6,091 2,616 2,429

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Income from operations The net result for the period of deducting operating expenses from operating revenues. Meta Platforms Inc. income from operations increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
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 increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
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 increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.