$Meta Platforms (META.US)$ reported Q4 EPS of $1.76, $0.50 worse than the analyst estimate of $2.26. Revenue for the quarter came in at $32.17 billion versus the consensus estimate of $31.53 billion.
Earnings Highlight
Fourth Quarter and Full Year 2022 Financial Highlights
Source: Meta
Fourth Quarter and Full Year 2022 Operational and Other Financial Highlights
• Ad impressions and price per ad – In the fourth quarter of 2022, ad impressions delivered across our Family of Apps increased by 23% year-over-year and the average price per ad decreased by 22% year-over-year. For the full year 2022, ad impressions increased by 18% year-over-year and the average price per ad decreased by 16% year-over-year
• Revenue – Revenue was $32.17 billion and $116.61 billion, a decrease of 4% and 1% year-over-year for the fourth quarter and full year 2022, respectively. Had foreign exchange rates remained constant with the same periods of 2021, revenue would have been $2.01 billion and $5.96 billion higher, an increase of 2% and 4% on a constant currency basis for the fourth quarter and full year 2022, respectively.
• Share repurchases – We repurchased $6.91 billion and $27.93 billion of our Class A common stock in the fourth quarter and full year 2022, respectively. As of December 31, 2022, we had $10.87 billion available and authorized for repurchases. We also announced today a $40 billion increase in our share repurchase authorization.
• Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $40.74 billion as of December 31, 2022. • Long-term debt – Long-term debt was $9.92 billion as of December 31, 2022.
Source: Meta
Financial Summary
Source: Meta
Price Action
Meta shares are up 18% to $180.71 in after-hours trading Wednesday.
