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Meta Platforms, Inc. [META] has reported a net loss of $39.1 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $134.9 billion
Based in Menlo Park, California, Meta Platforms, Inc. operates in the SERVICES sector.
In the annual report for the 12 months ended December 31, 2023, the company reported revenue of $134.902 million, compared to $116.609 million in the same period in 2022 and $117.929 million in 2021.
Costs and expenses for the period included:
- Cost of revenue amounted to $25.959 million in 2023, $25.249 million in 2022, and $22.649 million in 2021.
- Research and development costs were $38.483 million in 2023, $35.338 million in 2022, and $24.655 million in 2021.
- Marketing and sales expenses stood at $12.301 million in 2023, $15.262 million in 2022, and $14.043 million in 2021.
- General and administrative expenses were $11.408 million in 2023, $11.816 million in 2022, and $9.829 million in 2021.
The total costs and expenses were $88.151 million in 2023, $87.665 million in 2022, and $71.176 million in 2021.
Income from operations saw a significant increase, reaching $46.751 million in 2023 from $28.944 million in 2022 and $46.753 million in 2021.
Interest and other income (expense), net, was $677 million in 2023, ($125) million in 2022, and $531 million in 2021.
Income before provision for income taxes was reported at $47.428 million in 2023, $28.819 million in 2022, and $47.284 million in 2021.
The provision for income taxes amounted to $8.33 million in 2023, $5.619 million in 2022, and $7.914 million in 2021.
The net income for the period was $39.098 million in 2023, $23.2 million in 2022, and $39.37 million in 2021.
Earnings per share for Class A and Class B common stockholders were as follows:
- Basic earnings per share were $15.19 in 2023, $8.63 in 2022, and $13.99 in 2021.
- Diluted earnings per share were $14.87 in 2023, $8.59 in 2022, and $13.77 in 2021.
The weighted-average shares used to compute earnings per share for Class A and Class B common stockholders were:
- Basic shares were 2.574 million in 2023, 2.687 million in 2022, and 2.815 million in 2021.
- Diluted shares were 2.629 million in 2023, 2.702 million in 2022, and 2.859 million in 2021.
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