Meta Platforms (META) FY2014 results: revenue $12.5 billion, up 58.4% on the year
Meta Platforms, Inc. (META) reported revenue of $12.5 billion for fiscal 2014, the year ended 31 December 2014, up 58.4% on the year before. Net income was $2.9 billion, up 96.0%, and diluted earnings per share $1.10. The figures are the company's own, from the 10-K it filed with the SEC on 29 January 2015.
Revenue
$12.5 billion
+58.4% on the year
FY2010FY2014
Operating margin
40.1%
35.6% a year earlier
FY2010FY2014
Net income
$2.9 billion
+96.0% on the year
FY2010FY2014
Diluted EPS
$1.10
+83.3% on the year
FY2010FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
12,466
7,872
5,089
+58.4%
Cost of revenue
2,153
1,875
1,364
+14.8%
Gross profit
10,313
5,997
3,725
+72.0%
Gross margin
82.7%
76.2%
73.2%
Research and development
2,666
1,415
1,399
+88.4%
Operating income
4,994
2,804
538
+78.1%
Operating margin
40.1%
35.6%
10.6%
Interest expense
23.0
56.0
51.0
-58.9%
Pre-tax income
4,910
2,754
494
+78.3%
Income tax
1,970
1,254
441
+57.1%
Effective tax rate
40.1%
45.5%
89.3%
Net income
2,940
1,500
53.0
+96.0%
Net margin
23.6%
19.1%
1.0%
Diluted EPS
$1.10
$0.60
$0.01
+83.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
7,326
4,222
1,612
+73.5%
Capital expenditure
1,831
1,362
1,235
+34.4%
Free cash flow
5,495
2,860
377
+92.1%
Free cash flow margin
44.1%
36.3%
7.4%
Cash from investing
-5,913
-2,624
-7,024
Cash from financing
-298
-667
6,283
Depreciation and amortisation
1,243
1,011
649
+22.9%
Share-based compensation
1,786
906
1,572
+97.1%
Diluted shares, weighted
2,664m
2,517m
2,166m
+5.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
36,096
15,470
11,755
+133.3%
Debt
n/a
0.0
1,500
Other liabilities
3,870
2,425
1,848
+59.6%
Total liabilities and equity
39,966
17,895
15,103
+123.3%
Fixed assets
3,967
2,882
2,391
+37.6%
Goodwill
17,981
839
587
+2,043.1%
Intangible assets
3,929
883
801
+345.0%
Investments
6,884
8,126
7,242
-15.3%
Cash and equivalents
4,315
3,323
2,384
+29.9%
Receivables
1,678
1,109
719
+51.3%
Other assets
1,212
733
979
+65.3%
Total assets
39,966
17,895
15,103
+123.3%
10-K for the year ended 31 December 2014, filed 29 January 2015: the filing.