Meta Platforms (META) FY2023 results: revenue $134.9 billion, up 15.7% on the year
Meta Platforms, Inc. (META) reported revenue of $134.9 billion for fiscal 2023, the year ended 31 December 2023, up 15.7% on the year before. Net income was $39.1 billion, up 68.5%, and diluted earnings per share $14.87. The figures are the company's own, from the 10-K it filed with the SEC on 2 February 2024.
Revenue
$134.9 billion
+15.7% on the year
FY2016FY2023
Operating margin
34.7%
24.8% a year earlier
FY2016FY2023
Net income
$39.1 billion
+68.5% on the year
FY2016FY2023
Diluted EPS
$14.87
+73.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
71,113
50,475
57,683
+40.9%
Capital expenditure
27,045
31,186
18,690
-13.3%
Free cash flow
44,068
19,289
38,993
+128.5%
Free cash flow margin
32.7%
16.5%
33.1%
Cash from investing
-24,495
-28,970
-7,570
Cash from financing
-19,500
-22,136
-50,728
Depreciation and amortisation
11,178
8,686
7,967
+28.7%
Share-based compensation
14,027
11,992
9,164
+17.0%
Buybacks
19,774
27,956
44,537
-29.3%
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
2,629m
2,702m
2,859m
-2.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
153,168
125,713
124,879
+21.8%
Debt
18,385
9,923
0.0
+85.3%
Operating lease liabilities
17,226
15,301
12,746
+12.6%
Finance lease liabilities
600
558
506
+7.5%
Other liabilities
40,244
34,232
27,856
+17.6%
Total liabilities and equity
229,623
185,727
165,987
+23.6%
Goodwill
20,654
20,306
19,197
+1.7%
Intangible assets
788
897
634
-12.2%
Investments
23,541
26,057
31,397
-9.7%
Cash and equivalents
41,862
14,681
16,601
+185.1%
Receivables
16,169
13,466
14,039
+20.1%
Other assets
126,609
110,320
84,119
+14.8%
Total assets
229,623
185,727
165,987
+23.6%
10-K for the year ended 31 December 2023, filed 2 February 2024: the filing.