Slide 1: Meta Earnings Presentation Q3 2023
Meta Earnings Presentation Q3 2023 investor.fb.com
Slide 2: Advertising Revenue by User Geography
Advertising Revenue by User Geography In Millions $32,639 $33,643 $31,254 $31,498 $3,220 $4,137 $28,276 $28,152 $3,377 $28,101 $3,664 $26,998 $27,237 $2,963 $6,183 $3,169 $3,229 $6,829 $2,949 $3,047 $5,968 $6,435 $5,398 $5,835 $5,893 $5,661 $5,717 $8,174 $6,904 $7,721 $7,268 $6,821 $6,360 $6,269 $6,
Slide 3: Revenue by User Geography
Revenue by User Geography In Millions $33,671 $34,146 $32,165 $31,999 $3,244 $4,251 $29,010 $28,822 $3,429 $3,739 $27,908 $28,645 $27,714 $2,981 $6,244 $3,213 $3,292 $2,992 $3,100 $6,050 $6,928 $6,515 $5,461 $5,908 $5,759 $5,782 $5,960 $8,357 $7,050 $7,777 $7,323 $6,955 $6,452 $6,486 $5,797 $6,345 R
Slide 4: Segment Results
Segment Results In Millions Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Advertising $ 28,276 $ 32,639 $ 26,998 $ 28,152 $ 27,237 $ 31,254 $ 28,101 $ 31,498 $ 33,643 Other 176 155 215 218 192 184 205 225 293 Family of Apps 28,452 32,794 27,213 28,370 27,429 31,438 28,306 31,723 33,936 Reven
Slide 5: Expenses as a Percentage of Revenue
Expenses as a Percentage of Revenue 12% 10% 10% 8% 10% 13% 14% 14% 11% 10% 10% 12% 6% 12% 10% 12% 8% 13% 30% 28% 33% 33% 30% 29% 22% 27% General & 21% Administrative Marketing & Sales 26% Research & 20% 19% 22% 21% 21% 19% 18% 18% Development Cost of Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q
Slide 6: Effective Tax Rate
Effective Tax Rate In Millions, Except for Percentages Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Income before provision $ 10,565 $ 12,702 $ 8,908 $ 8,186 $ 5,576 $ 6,149 $ 7,307 $ 9,293 $ 14,020 for income taxes Provision for income taxes 1,371 2,417 1,443 1,499 1,181 1,497 1,598 1,505
Slide 7: Net Income
Net Income In Millions $11,583 $10,285 $9,194 $7,788 $7,465 $6,687 $5,709 $4,652 $4,395 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 7
Slide 8: Diluted Earnings Per Share
Diluted Earnings Per Share $4.39 $3.67 $3.22 $2.98 $2.72 $2.46 $2.20 $1.76 $1.64 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 8
Slide 9: Capital Expenditures
Capital Expenditures In Millions $22,813 $20,204 $9,518 $6,763 Q3'22 Q3'23 2022 2023 Quarterly YTD 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 3.07 3.14 2.96 3.02 2.87 2.88 2.93 2.81 2.82 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 DAP/MAP Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 78% 79% 79% 79% 79% 79% 79% 79% 79% We define a daily active person (DAP) as a registered and
Slide 11: Family Monthly Active People (MAP)
Family Monthly Active People (MAP) In Billions 3.88 3.96 3.74 3.81 3.64 3.65 3.71 3.58 3.59 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 We define a monthly active person (MAP) as a registered and logged-in user of one or more Family products who visited at least one of these Family product
Slide 12: Family Average Revenue per Person (ARPP)
Family Average Revenue per Person (ARPP) $9.39 $8.63 $8.71 $8.18 $8.32 $7.91 $7.72 $7.53 $7.59 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 We define average revenue per person (ARPP) as our total revenue during a given quarter, divided by the average of the number of MAP at the beginning a
Slide 13: Facebook Daily Active Users (DAUs)
Facebook Daily Active Users (DAUs) In Millions 2,064 2,085 2,000 2,037 1,960 1,968 1,984 1,930 1,929 657 665 676 629 631 638 643 622 619 827 836 845 854 873 891 899 805 806 Rest of World Asia-Pacific 308 309 307 303 303 304 307 307 307 Europe 196 195 196 197 197 199 200 202 203 US & Canada Q3'21 Q4'
Slide 14: Facebook Monthly Active Users (MAUs)
Facebook Monthly Active Users (MAUs) In Millions 3,030 3,049 2,936 2,934 2,958 2,963 2,989 2,910 2,912 986 1,002 1,013 949 945 957 959 971 979 1,278 1,278 1,297 1,305 1,312 1,312 1,324 1,349 1,357 Rest of World Asia-Pacific 423 427 418 407 408 407 411 409 408 Europe 261 262 263 264 266 266 269 270 2
Slide 15: Facebook Average Revenue per User (ARPU)
Facebook Average Revenue per User (ARPU) $58.77 $19.04 $53.53 $56.11 $17.29 $17.88 $49.13 $48.85 $15.51 $11.23 $14.23 $10.86 $10.63 $9.41 $9.62 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Worldwide US & Canada Europe $4.88 $5.12 $4.42 $4.61 $4.52 $4.22 $
Slide 16: Appendix
Appendix OQ Meta
Slide 17: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation In Millions Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Net cash provided by $ 14,091 $ 18,104 $ 14,076 $ 12,197 $ 9,691 $ 14,511 $ 13,998 $ 17,309 $ 20,402 operating activities Less: Purchases of property and 4,313 5,370 5,315 7,528 9,355 8,988 6,823 6,134 6,
Slide 18: Limitations of Key Metrics and Other Data
Limitations of Key Metrics and Other Data 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), monthly active people (MAP), and average revenue per person (ARPP) (co
Slide 19: Limitations of Key Metrics and Other Data
Limitations of Key Metrics and Other Data To calculate our estimates of Family DAP and MAP, 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
Slide 20: Limitations of Key Metrics and Other Data
Limitations of Key Metrics and Other Data Facebook Metrics We regularly evaluate our Facebook metrics to estimate the number of "duplicate" and "false" accounts among our MAUs. A duplicate account is one that a user maintains in addition to his or her principal account. We divide "false" accounts in
Slide 21: Meta Earnings Presentation Q3 2023
Meta Earnings Presentation Q3 2023 investor.fb.com