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Meta Platforms (META) Q4 FY2021 earnings: revenue $33.7 billion, up 19.9% on the year

Meta Platforms, Inc. (META) reported revenue of $33.7 billion for Q4 FY2021, the quarter ended 31 December 2021, up 19.9% on the same quarter a year earlier. Net income was $10.3 billion, down 8.3% on the year, and diluted earnings per share $3.64. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2022.

Revenue
$33.7 billion
+19.9% on the year · +16.1% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
37.4%
45.5% a year earlier
Q1 FY2020Q4 FY2021
Net income
$10.3 billion
-8.3% on the year · +11.9% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$3.64
-5.9% on the year · +13.0% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue33,67129,01028,071+16.1%+19.9%
Cost of revenue6,348n/an/a
Gross profit27,323n/an/a
Gross margin81.1%n/an/a
Research and development7,046n/an/a
Operating income12,58510,42312,775+20.7%-1.5%
Operating margin37.4%35.9%45.5%
Pre-tax income12,703n/an/a
Income tax2,418n/an/a
Effective tax rate19.0%n/an/a
Net income10,2859,19411,220+11.9%-8.3%
Net margin30.5%n/an/a
Diluted EPS$3.64$3.22$3.87+13.0%-5.9%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free 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

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow18,104n/an/a
Capital expenditure5,369n/an/a
Free cash flow12,735n/an/a
Free cash flow margin37.8%n/an/a
Cash from investing5,829n/an/a
Cash from financing-21,742n/an/a
Depreciation and amortisation2,0191,9941,864+1.3%+8.3%
Share-based compensation2,407n/an/a
Buybacks20,061n/an/a
Diluted shares, weighted2,859m2,859m2,888m0.0%-1.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity124,879133,360128,290-6.4%-2.7%
Debt0.00.00.0
Operating lease liabilities12,746n/an/a
Finance lease liabilities506n/an/a
Other liabilities27,856n/an/a
Total liabilities and equity165,987n/an/a
Goodwill19,197n/an/a
Intangible assets634n/an/a
Investments31,397n/an/a
Cash and equivalents16,60114,49617,576+14.5%-5.5%
Receivables14,039n/an/a
Other assets84,119n/an/a
Total assets165,987n/an/a

Questions

What was Meta Platforms' revenue in Q4 FY2021?

Meta Platforms (META) reported revenue of $33.7 billion for Q4 FY2021, the quarter ended 31 December 2021, up 19.9% on the same quarter a year earlier.

How much did Meta Platforms earn in Q4 FY2021?

Net income for Q4 FY2021 was $10.3 billion, down 8.3% on the year, and diluted earnings per share $3.64.

When did Meta Platforms report Q4 FY2021 results?

Meta Platforms filed its 10-K for the year that ended with the quarter on 3 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023 †Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue33,67127,90828,82227,71432,16528,64531,99934,14640,11236,45539,07140,58948,38642,31447,51651,24259,89456,31160,80164,601
Cost of revenue6,3486,0055,1925,7168,3366,1085,9456,2107,6966,6407,3087,3758,8387,5728,4919,20610,90610,21811,33013,369
Gross profit27,32321,90323,63021,99823,82922,53726,05427,93632,41629,81531,76333,21439,54834,74239,02542,03648,98846,09349,47151,232
Gross margin81%78%82%79%74%79%81%82%81%82%81%82%82%82%82%82%82%82%81%79%
R&D7,0467,7078,6909,1709,7719,3819,3449,24110,5179,97810,53711,17712,18112,15012,94215,14417,13617,69921,65620,054
Operating income12,5858,5248,3585,6646,3987,2279,39213,74816,38413,81814,84717,35023,36517,55520,44120,53524,74522,87218,77512,988
Operating margin37%31%29%20%20%25%29%40%41%38%38%43%48%41%43%40%41%41%31%20%
Interest expensen/an/an/an/an/a49.0110132129n/an/a200n/an/a232205n/an/a754882
Pre-tax income12,7038,9088,1865,5766,1497,3079,29314,02016,80814,18315,10617,82223,55218,38220,53421,66325,35321,75218,75613,001
Tax rate19%16%18%21%24%22%16%17%17%13%11%12%12%9%11%87%10%-23%16%24%
Net income10,2857,4656,6874,3954,6535,7097,78811,58314,01812,36913,46515,68820,83816,64418,3372,70922,76826,77315,8489,860
Net margin31%27%23%16%14%20%24%34%35%34%34%39%43%39%39%5%38%48%26%15%
Diluted EPS$3.64$2.72$2.46$1.64$1.77$2.20$2.98$4.39$5.30$4.71$5.16$6.03$8.02$6.43$7.14$1.05$8.88$10.44$6.18$3.83
Operating cash flow18,10414,07612,1969,69214,51113,99817,30920,40219,40419,24619,37024,72427,98824,02625,56129,99936,21432,22631,86232,785
Capital expenditure5,3695,4417,5729,3759,0436,8236,2166,5437,6656,4008,1738,25814,42512,94116,53818,82921,38318,99730,11633,942
Free cash flow12,7358,6354,6243175,4687,17511,09313,85911,73912,84611,19716,46613,56311,0859,02311,17014,83113,2291,746-1,157
Buybacks20,0619,5065,2336,3546,8639,3658983,5695,94215,0086,2998,8180.012,75410,1673,3270.00.00.00.0
Dividends paidn/a0.00.00.00.00.00.00.00.01,2731,2661,2621,2671,3251,3221,3231,3281,3461,3531,361
Shares outstandingn/an/an/an/an/an/an/an/an/an/an/an/a2,534m2,514m2,512m2,521m2,530m2,538m2,548m2,556m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 3 February 2022: the filing.