On 2/2/2022 Meta Platforms Inc. (then also Facebook) published its financial reports, the first time under the name Meta. However, the reports were not too pleasing for the investors.
The group reported total revenue of $33.671 billion in Q4-2021. In Q4-2020, this was $28.072 billion, representing 20% growth. After all expenses and 19% tax rate, the company posted a profit of $10.285 billion, which is 8% less than the same quarter last year. There, the profit was $11.219 billion. The reason for the decline was higher tax rates this year. EPS in the 4th quarter was $3.67, which is 5% less than last year.
The picture is more encouraging for the full year 2021. The company posted total revenue of $117.929 billion, paid 17% in taxes, and after all other expenses, Meta posted a profit of $39.37 billion. EPS was $13.77. All financial areas (revenues and expenses) increased by at least 34%.
Investors did not like the slight decline in Q4-2021. That's because the stock fell over 22% in After Hours (wiping out nearly $200 billion in market value). Meta is investing over $10.193 billion in the full year 2021. A way for people to connect. However, you can't see any real progress. This means that over $10 billion has been put into the sand (for now).
