February 4, 2024

The revenue of the company Meta (which manages the Facebook and Instagram networks) for 2023 was $135 billion, net profit made $39 billion.

The company Meta, which owns social networks Facebook, Instagram and the WhatsApp messenger, has published its financial report for the fourth quarter and the full year 2023.

According to the company's report, its revenue for the fourth quarter 2023 made $40 billion (+25% y-o-y), operating profit - $16.4 billion, net profit - $14 billion (three times higher y-o-y).

In total, in 2023, Meta's revenue amounted to $135 billion (+16% y-o-y), operating profit - $47 billion (+62%), net profit - $39 billion (+69%).

In terms of operating performance figures, the number of users of the Facebook network on a daily basis in December 2023 increased by 6% compared to the corresponding figure a year ago and amounted to 2.11 billion. The number of people who used the network at least once a month in December was 3.07 billion.

At the same time, the number of Meta headcount as of December 31, 2023 was 67.3 thousand people, 22% less than a year ago.

Meta's operating cash flow in 2023 amounted to $71 billion, of which $25 billion was directed to investment activities (plans for 2024 - $30-37 billion), and another $20 billion to repurchase of own shares.

The amount of cash and cash equivalents in Meta's balance sheet as of the end of 2023 is $65 billion (a year ago - $41 billion), debt - $18 billion.

The important news was that the company will pay dividends to its shareholders for the first time in history - in the amount of $0.5 per share for one quarter (or $2 per share per year, which will amount to about $5 billion in total for 2024). Meta is also to increase its share buyback program to $50 billion.

After financial results and future company's plans disclosure, the share price of Meta increased by 20%, so its capitalization is now $1.22 trillion.