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.
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- Balance Sheet: Assets
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2012
- Price to Operating Profit (P/OP) since 2012
- Analysis of Revenues
- Analysis of Debt
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Meta Platforms Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
- Revenue
- The revenue figures demonstrate notable growth over the observed period. Starting at approximately 17.7 billion USD in the first quarter of 2020, revenue fluctuates slightly but maintains an overall uptrend, peaking at 48.4 billion USD by the second quarter of 2025. The quarters generally show seasonal variation but reflect consistent expansion, with significant jumps observed particularly in the fourth quarters, indicating possible seasonal influences or strategic revenue hikes at year-end.
- Cost of Revenue
- Costs associated with revenue have also increased substantially, rising from roughly 3.5 billion USD in early 2020 to nearly 8.5 billion USD in mid-2025. There is a visible pattern of costs rising in tandem with revenue, though the increases tend to be proportionally smaller, suggesting some improvement in cost management and operational efficiency over time despite occasional spikes, such as the sharp rise in late 2022.
- Gross Profit
- Gross profit follows a trend consistent with revenue growth, increasing from about 14.3 billion USD in early 2020 to nearly 39 billion USD by mid-2025. Although some quarters show declines or stagnation (notably in 2022), the overall trajectory is upward, indicating effective conversion of revenue into profit. The increase in gross profit reflects both growing revenue and relatively contained cost increases.
- Research and Development Expenses
- Expenditure on research and development shows a marked and steady increase throughout the period, starting at approximately 4 billion USD and rising consistently to over 12.9 billion USD by mid-2025. This consistent increase suggests a strong and sustained investment in innovation and product development, which may be a strategic priority for long-term growth, despite the impact on shorter-term profitability.
- Marketing and Sales Expenses
- Marketing and sales costs exhibit more variability but generally remain within a range of roughly 2.5 to 4.5 billion USD quarterly. There is no clear upward or downward trend, suggesting relatively stable spending in this area, with minor fluctuations that may correspond to specific campaigns or market conditions. The quarter-to-quarter variability may also reflect adjustments to align marketing expenditure with revenue cycles.
- General and Administrative Expenses
- These expenses display significant fluctuations, ranging from under 1 billion USD in some quarters to over 4 billion USD in others. The inconsistency indicates possible episodic costs or restructuring events and suggests a less predictable pattern in administrative spending compared to other expense categories. Towards the later quarters, there are signs of volatility with both peaks and troughs, indicating potential areas for management to investigate.
- Income from Operations
- Operating income shows robust growth, moving from just under 6 billion USD to over 20 billion USD in the latest quarters. The trajectory is mostly positive with notable peaks in year-end quarters, reinforcing the company’s ability to scale operational profitability in line with revenues. There are some dips corresponding with increasing expenses, but the long-term trend reflects improved operational efficiency.
- Interest and Other Income (Expense), Net
- This metric fluctuates between positive and negative values, though values are relatively small compared to operating income and expenses, indicating that non-operational financial activities have a minor and irregular impact on overall profitability. Recent quarters show positive net income from this source, which could contribute marginally to the bottom line.
- Income before Provision for Income Taxes
- Income before taxes mirrors the pattern of operating income, showing steady growth from around 5.9 billion USD to over 20 billion USD towards the end of the period. This consistency confirms that the company’s core operations are the primary drivers of pre-tax profitability, with relatively minor influences from other income or expense items.
- Provision for Income Taxes
- Tax provisions vary significantly over time but generally increase in line with rising pre-tax income, increasing from under 1 billion USD to over 2 billion USD quarterly. The fluctuations may reflect changes in tax rates, deferred taxes, or adjustments related to geographic earnings distribution.
- Net Income
- Net income trends upward markedly, increasing from approximately 4.9 billion USD to over 18 billion USD by mid-2025, reflecting the company’s enhanced profitability. The increasing net income aligns with growth in revenues and improved management of costs and expenses, demonstrating strong overall financial health and earnings capacity. Small dips are observed intermittently but do not disrupt the sustained upward momentum.