Facebook Inc. (FB)


Income Statement
Quarterly Data

Difficulty: Beginner

The income statement presents information on the financial results of a company’s 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.

Facebook Inc., consolidated income statement (quarterly data)

US$ in millions

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3 months ended Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Revenue 16,886  15,077  16,914  13,727  13,231  11,966  12,972  10,328  9,321  8,032  8,809  7,011  6,436  5,382  5,842  4,501  4,042  3,543  3,851  3,203  2,910  2,502 
Cost of revenue (3,307) (2,816) (2,796) (2,418) (2,214) (1,927) (1,610) (1,448) (1,237) (1,159) (1,047) (987) (917) (838) (825) (720) (668) (654) (653) (565) (473) (462)
Gross profit 13,579  12,261  14,118  11,309  11,017  10,039  11,362  8,880  8,084  6,873  7,762  6,024  5,519  4,544  5,017  3,781  3,374  2,889  3,198  2,638  2,437  2,040 
Research and development (3,315) (2,860) (2,855) (2,657) (2,523) (2,238) (1,949) (2,052) (1,919) (1,834) (1,563) (1,542) (1,471) (1,343) (1,313) (1,271) (1,170) (1,062) (1,111) (608) (492) (455)
Marketing and sales (2,414) (2,020) (2,468) (1,928) (1,855) (1,595) (1,374) (1,170) (1,124) (1,057) (1,119) (926) (901) (826) (773) (706) (626) (620) (625) (374) (358) (323)
General and administrative (3,224) (4,064) (975) (943) (776) (757) (686) (536) (640) (655) (514) (439) (413) (365) (371) (345) (305) (274) (330) (259) (197) (187)
Income from operations 4,626  3,317  7,820  5,781  5,863  5,449  7,353  5,122  4,401  3,327  4,566  3,117  2,734  2,010  2,560  1,459  1,273  933  1,132  1,397  1,390  1,075 
Interest and other income (expense), net 206  165  151  131  161  109  114  87  81  (32) 47  20  56  (3) (27) —  (1) (19) (61) (4) — 
Income before provision for income taxes 4,832  3,482  7,971  5,912  5,868  5,610  7,462  5,236  4,488  3,408  4,534  3,164  2,754  2,066  2,557  1,432  1,273  932  1,113  1,336  1,386  1,075 
Provision for income taxes (2,216) (1,053) (1,090) (775) (762) (622) (3,193) (529) (594) (344) (965) (537) (471) (328) (996) (536) (554) (420) (412) (530) (595) (433)
Net income 2,616  2,429  6,881  5,137  5,106  4,988  4,269  4,707  3,894  3,064  3,569  2,627  2,283  1,738  1,561  896  719  512  701  806  791  642 

Based on: 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-01), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-01-28), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-01-29), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-25).

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. Facebook Inc.’s revenue declined from Q4 2018 to Q1 2019 but then increased from Q1 2019 to Q2 2019 not reaching Q4 2018 level.
Income from operations The net result for the period of deducting operating expenses from operating revenues. Facebook Inc.’s income from operations declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.
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. Facebook Inc.’s income before provision for income taxes declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Facebook Inc.’s net income declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.