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Analysis of Revenues
Accounting Policy on Revenue Recognition
Revenue is recognized when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration Facebook expects to be entitled to in exchange for those goods or services.
Facebook determines revenue recognition through the following steps:
- identification of the contract, or contracts, with a customer;
- identification of the performance obligations in the contract;
- determination of the transaction price;
- allocation of the transaction price to the performance obligations in the contract; and
- recognition of revenue when, or as, Facebook satisfies a performance obligation.
Revenue excludes sales and usage‑based taxes where it has been determined that Facebook is acting as a pass‑through agent.
Source: 10-K (filing date: 2020-01-30).
Revenues as Reported
Facebook Inc., Income Statement, Revenues
US$ in millions
|12 months ended:||Dec 31, 2019||Dec 31, 2018||Dec 31, 2017||Dec 31, 2016||Dec 31, 2015|
|Revenue||Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).||Facebook Inc.’s revenue increased from 2017 to 2018 and from 2018 to 2019.|