Meta: Annual Revenue and Net Income, by year
YearRevenue,
in million USD
Net Income,
in million USD
2023134,90239,098
2022116,60923,200
2021117,92939,370
202085,96529,146
201970,69718,485
201855,83822,112
201740,65315,934
201627,63810,217
201517,9283,688
201412,4662,940
20137,8721,500
20125,08953
20113,7111,000
20101,974606
2009777229
2008272-56
2007153-138
  • Region: Worldwide
  • Time period: 2007 to 2023
  • Published: Feb 2024

Data Analysis and Insights

Updated: Mar 29, 2024 | Published by: Statistico

Rapid Growth in Revenue and Net Income

Meta experienced significant financial growth from 2008 to 2023, with revenue increasing from $272 million to $134.902 billion and net income transforming from a loss of -$56 million to a profit of $39.098 billion. This showcases a remarkable escalation in both revenue and profitability over 15 years.

Record Highs in 2023

The year 2023 marked record highs for Meta in terms of both revenue and net income, reaching $134.902 billion in revenue and $39.098 billion in net income. These figures represent significant year-over-year growth from 2022, where revenue was $116.609 billion and net income stood at $23.200 billion.

Fluctuations in Net Income Margins

Despite consistent revenue growth, Meta's net income margins have shown fluctuations. Notably, the net income margin decreased from 35.3% in 2021 to 19.9% in 2022, before recovering to 28.9% in 2023. This indicates variability in profitability relative to revenue.

Impact of Scaling on Profitability

Meta's journey from a loss in 2008 to substantial profits illustrates the impact of scaling on profitability. Initial years showed losses or modest profits, with a loss of -$56 million in 2008 and a profit of $229 million in 2009. The significant profit growth to $39.098 billion by 2023 underscores the benefits of scaling and market expansion.

Comparison of Growth Phases

The company's growth phases can be segmented into early growth (2008-2012), where revenue grew from $272 million to $5.089 billion, and rapid expansion (2013-2023), with revenue skyrocketing from $7.872 billion to $134.902 billion. These phases illustrate Meta's transition from a startup to a global tech leader.

Significant Milestones

Meta achieved significant milestones in its financial trajectory, notably surpassing $100 billion in annual revenue for the first time in 2023. Another milestone was achieving over $20 billion in net income in 2018, highlighting key moments of financial achievement.

Variable Net Income Recovery Post-2020

After a dip in net income margin in 2022, Meta demonstrated a strong recovery in 2023. The net income nearly doubled from $23.200 billion in 2022 to $39.098 billion in 2023, illustrating the company's resilience and ability to bounce back from profitability pressures.

Revenue Doubling Intervals

Meta's revenue has shown a pattern of doubling at regular intervals, indicating consistent growth. Notably, revenue doubled from $27.638 billion in 2016 to over $55.838 billion in 2018, and again nearly doubled from $70.697 billion in 2019 to $134.902 billion in 2023. This reflects sustained scalability and market dominance.

Frequently Asked Questions

How has Meta's financial growth evolved?

From 2008 to 2023, Meta's revenue increased from $272 million to $134.902 billion and its net income flipped from a loss of $56 million to a profit of $39.098 billion.

Has Meta's net income margin been consistent over the years?

Meta's net income margins have fluctuated, with a notable drop from 35.3% in 2021 to 19.9% in 2022, before recovering to 28.9% in 2023.

What are the significant milestones Meta achieved in its financial journey?

Meta's financial milestones include surpassing $100 billion in annual revenue for the first time in 2023 and achieving over $20 billion in net income in 2018.

Terms and Definitions

Meta, formerly known as Facebook Inc. is a multinational technology company famous for developing and providing popular social networking platforms and applications such as Facebook, Instagram, WhatsApp, and Oculus VR among others. The company officially rebranded to Meta Platforms Inc. in late 2021 to reflect its focus on building the "metaverse," a collective virtual shared space created by the convergence of physically virtually enhanced reality.

Annual revenue refers to the total amount of income generated by a business in a fiscal year from its primary activities like sales of products or services, before any costs or expenses are deducted. It serves as a fundamental indicator of a company's financial health and operational scalability.

Net income, also known as net profit or bottom line, is a key profitability measure. It represents the total earnings of a company after deducting all costs, expenses, taxes, interest charges, and other deductions associated with their operations from the total revenue in a given fiscal year. It essentially showcases the overall financial success of a company in the stated time period.

Costs and expenses in a business context cover all money spent by a company to carry out its operations and conduct its main activities. This includes cost of goods sold, administrative costs, wages and salaries, utility bills, research and development costs, marketing and selling expenses, taxes, depreciation, and interest payments among others.

Interest charges refer to the cost incurred by an entity for borrowed funds. They are calculated as a percentage of the principal amount that was borrowed. These charges can affect a company's net income if it has significant loan-induced debt.

Social networking platforms are digital platforms that facilitate the building of networks or social relations among people who share interests, activities, backgrounds, or real-life connections. They allow users to share ideas, messages, pictures and videos, and participate in community-driven networks.

The metaverse refers to a collective virtual shared space that is created by the convergence of physical and virtual reality. The concept encompasses augmented reality (AR), virtual reality (VR), 3D holographic avatars, and internet spaces and could be a future iteration of the internet. It's a space where users can interact in a virtual environment using avatars.
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Meta, formerly known as Facebook, is one of the biggest social media platforms worldwide, recognized for its significant influence on digital communication, online advertising, and information dissemination. Read more »
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