Summary
Meta Platforms, Inc. (META) reported strong financial performance for the second quarter and first half of 2021, with significant year-over-year growth in revenue and net income. Total revenue for the three months ended June 30, 2021, reached $29.08 billion, a 56% increase, primarily driven by a 56% surge in advertising revenue. Net income also saw a substantial rise to $10.39 billion, resulting in diluted EPS of $3.61. The company continued to expand its user base, with Family Daily Active People (DAP) reaching 2.76 billion, up 12% year-over-year, and Family Monthly Active People (MAP) growing to 3.51 billion, also a 12% increase. Despite robust revenue growth, total costs and expenses also increased by 31% to $16.71 billion, largely due to investments in research and development and cost of revenue. The company ended the period with a strong cash and cash equivalents and marketable securities position of $64.08 billion, reflecting healthy operational cash flow generation. Significant capital expenditures and substantial share repurchases were noted, highlighting ongoing investments and capital return to shareholders.
Financial Highlights
47 data points| Revenue | $29.08B |
| Cost of Revenue | $5.40B |
| Gross Profit | $23.68B |
| R&D Expenses | $6.10B |
| Operating Expenses | $16.71B |
| Operating Income | $12.37B |
| Net Income | $10.39B |
| EPS (Basic) | $3.67 |
| EPS (Diluted) | $3.61 |
| Shares Outstanding (Basic) | 2.83B |
| Shares Outstanding (Diluted) | 2.88B |
Key Highlights
- 1Revenue increased by 56% year-over-year to $29.08 billion for the three months ended June 30, 2021, driven by a 56% increase in advertising revenue.
- 2Net income grew significantly to $10.39 billion, with diluted earnings per share (EPS) of $3.61 for the same period.
- 3Family Daily Active People (DAP) reached 2.76 billion, a 12% year-over-year increase, and Family Monthly Active People (MAP) reached 3.51 billion, also a 12% increase.
- 4Operating income was $12.37 billion, with an operating margin of 43%.
- 5Total costs and expenses increased by 31% year-over-year to $16.71 billion, reflecting increased investment in R&D and infrastructure.
- 6Cash and cash equivalents and marketable securities stood at $64.08 billion as of June 30, 2021, indicating a strong liquidity position.
- 7The company repurchased $11.26 billion of Class A common stock in the first six months of 2021 under its share repurchase program.