Meta Platforms (META) FY2017 results: revenue $40.7 billion, up 47.1% on the year
Meta Platforms, Inc. (META) reported revenue of $40.7 billion for fiscal 2017, the year ended 31 December 2017, up 47.1% on the year before. Net income was $15.9 billion, up 56.0%, and diluted earnings per share $5.39. The figures are the company's own, from the 10-K it filed with the SEC on 1 February 2018.
Revenue
$40.7 billion
+47.1% on the year
FY2010FY2017
Operating margin
49.7%
45.0% a year earlier
FY2010FY2017
Net income
$15.9 billion
+56.0% on the year
FY2010FY2017
Diluted EPS
$5.39
+54.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
40,653
27,638
17,928
+47.1%
Cost of revenue
5,454
3,789
2,867
+43.9%
Gross profit
35,199
23,849
15,061
+47.6%
Gross margin
86.6%
86.3%
84.0%
Research and development
7,754
5,919
4,816
+31.0%
Operating income
20,203
12,427
6,225
+62.6%
Operating margin
49.7%
45.0%
34.7%
Interest expense
6.0
10.0
23.0
-40.0%
Pre-tax income
20,594
12,518
6,194
+64.5%
Income tax
4,660
2,301
2,506
+102.5%
Effective tax rate
22.6%
18.4%
40.5%
Net income
15,934
10,217
3,688
+56.0%
Net margin
39.2%
37.0%
20.6%
Diluted EPS
$5.39
$3.49
$1.29
+54.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
24,216
16,108
10,320
+50.3%
Capital expenditure
6,733
4,491
2,523
+49.9%
Free cash flow
17,483
11,617
7,797
+50.5%
Free cash flow margin
43.0%
42.0%
43.5%
Cash from investing
-20,118
-11,792
-9,434
Cash from financing
-5,235
-310
-139
Depreciation and amortisation
3,025
2,342
1,945
+29.2%
Share-based compensation
3,723
3,218
2,960
+15.7%
Buybacks
1,976
0.0
0.0
Diluted shares, weighted
2,956m
2,925m
2,853m
+1.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
74,347
59,194
44,218
+25.6%
Debt
0.0
n/a
n/a
Other liabilities
10,177
5,767
5,189
+76.5%
Total liabilities and equity
84,524
64,961
49,407
+30.1%
Fixed assets
13,721
8,591
5,687
+59.7%
Goodwill
18,221
18,122
18,026
+0.5%
Intangible assets
1,884
2,535
3,246
-25.7%
Investments
33,632
20,546
13,527
+63.7%
Cash and equivalents
8,079
8,903
4,907
-9.3%
Receivables
5,832
3,993
2,559
+46.1%
Other assets
3,155
2,271
1,455
+38.9%
Total assets
84,524
64,961
49,407
+30.1%
10-K for the year ended 31 December 2017, filed 1 February 2018: the filing.