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

3 months ended:	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	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	(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	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	(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	(2,564)	(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	(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	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	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	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	(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	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)

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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 increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Meta Platforms Inc. income from operations increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 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 increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 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 increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Meta Platforms Inc. (NASDAQ:META)

Income StatementQuarterly Data

Income Statement
Quarterly Data