Slide 1: Meta Earnings Presentation Q1 2024
Meta Earnings Presentation Q1 2024 investor.fb.com
Slide 2: Advertising Revenue by User Geography
Advertising Revenue by User Geography In Millions $38,706 $4,447 $35,635 $33,643 $31,498 $4,519 $31,254 $4,137 $7,316 $28,152 $3,377 $28,101 $3,664 $26,998 $27,237 $7,338 $3,169 $3,047 $3,229 $6,829 $2,949 $5,968 $6,435 $5,835 $5,893 $9,159 $5,661 $5,717 $7,721 $8,327 $6,904 $7,268 $6,364 $6,360 $5,
Slide 3: Revenue by User Geography
Revenue by User Geography In Millions $40,111 $4,573 $36,455 $34,146 $32,165 $4,667 $31,999 $4,251 $7,512 $28,822 $3,429 $28,645 $3,739 $27,908 $27,714 $7,481 $2,992 $3,213 $3,292 $6,928 $3,100 $6,050 $6,515 $5,908 $9,441 $5,759 $5,782 $5,960 $8,483 $7,050 $7,777 $7,323 $6,486 $6,452 $5,797 $6,345 R
Slide 4: Segment Results
Segment Results In Millions Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Advertising $ 26,998 $ 28,152 $ 27,237 $ 31,254 $ 28,101 $ 31,498 $ 33,643 $ 38,706 $ 35,635 Other 215 218 192 184 205 225 293 334 380 Family of Apps 27,213 28,370 27,429 31,438 28,306 31,723 33,936 39,040 36,015 Reven
Slide 5: Expenses as a Percentage of Revenue
Expenses as a Percentage of Revenue 12% 10% 10% 8% 10% 13% 14% 14% 11% 12% 6% 6% 9% 12% 10% 8% 8% 7% 30% 28% 33% 33% 30% 29% 26% 27% 27% General & Administrative Marketing & Sales 26% Research & 22% 21% 21% 19% 19% 18% 18% 18% Development Cost of Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24
Slide 6: Effective Tax Rate
Effective Tax Rate In Millions, Except for Percentages Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Income before provision $ 8,908 $ 8,186 $ 5,576 $ 6,149 $ 7,307 $ 9,293 $ 14,020 $ 16,808 $ 14,183 for income taxes Provision for income taxes $ 1,443 $ 1,499 $ 1,181 $ 1,497 $ 1,598 $ 1,505
Slide 7: Net Income
Net Income In Millions $14,017 $12,369 $11,583 $7,788 $7,465 $6,687 $5,709 $4,395 $4,652 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 7
Slide 8: Diluted Earnings Per Share
Diluted Earnings Per Share $5.33 $4.71 $4.39 $2.98 $2.72 $2.46 $2.20 $1.76 $1.64 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 8
Slide 9: Capital Expenditures
Capital Expenditures In Millions $32,036 $28,103 $7,087 $6,715 Q1'23 Q1'24 2022 2023 Quarterly Annual Capital expenditures for periods presented were related to purchases of property and equipment, net and principal payments on finance leases. 9
Slide 10: Family Daily Active People (DAP)
Family Daily Active People (DAP) In Billions 3.19 3.24 3.07 3.14 3.02 2.93 2.96 2.87 2.88 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 We define a daily active person (DAP) as a registered and logged-in user of Facebook, Instagram, Messenger, and/or WhatsApp (collectively, our "Family" of p
Slide 11: Family Average Revenue per Person (ARPP)
Family Average Revenue per Person (ARPP) $12.33 $11.20 $10.68 $10.93 $10.42 $9.87 $9.57 $9.44 $9.47 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Beginning with this quarter, we define average revenue per person (ARPP) as our FoA revenue during a given quarter, divided by the average of the
Slide 12: Ad Impressions Delivered YoY Percentage Change
Ad Impressions Delivered YoY Percentage Change 34% 31% 26% 28% 26% 26% 25% 21% 20% 22% 16% 16% 17% 11% 12% Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Worldwide US & Canada Europe 42% 39% 34% 31% 30% 28% 28% 27% 17% 17% Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q1’2
Slide 13: Average Price Per Ad YoY Percentage Change
Average Price Per Ad YoY Percentage Change 18% 14% 6% 8% 2% 2% 5% (6)% (7)% (9)% (13)% (11)% (17)% (16)% (14)% Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Worldwide US & Canada Europe 20% 13% 7% (3)% (6)% (14)% (15)% (12)% (22)% (22)% Q1’23 Q2’23 Q3’23 Q
Slide 14: Appendix
Appendix OQ Meta
Slide 15: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation In Millions Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Net cash provided by $ 14,076 $ 12,197 $ 9,691 $ 14,511 $ 13,998 $ 17,309 $ 20,402 $ 19,404 $ 19,246 operating activities Less: Purchases of property and 5,315 7,528 9,355 8,988 6,823 6,134 6,496 7,592 6,
Slide 16: Limitations of Key Metrics and Other Data
Limitations of Key Metrics and Other Data Family Metrics The numbers for our key metrics are calculated using internal company data based on the activity of user accounts. We report our estimates of the numbers of our daily active people (DAP) and average revenue per person (ARPP) (collectively, our
Slide 17: Limitations of Key Metrics and Other Data
Limitations of Key Metrics and Other Data To calculate our estimates of DAP, we currently use a series of machine learning models that are developed based on internal reviews of limited samples of user accounts and calibrated against user survey data. We apply significant judgment in designing these
Slide 18: Meta Earnings Presentation Q1 2024
Meta Earnings Presentation Q1 2024 investor.fb.com