Q2 meta’s revenue in fiscal year 2022 was $28.8 billion, and its net profit decreased by 36% year-on-year From Meta financial report

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Meta, the parent company of Facebook, released its unaudited financial report for the second quarter of fiscal year 2022 as of June 30 today. The report shows that the revenue of meta in the second quarter was US $28.822 billion, a decrease of 1% compared with us $29.077 billion in the same period last year, and a year-on-year increase of 3% excluding the impact of exchange rate changes; The net profit was $6.687 billion, down 36% from $10.394 billion in the same period last year; Diluted earnings per share was $2.46, down 32% from $3.61 in the same period last year.

Meta’s second quarter revenue and earnings per share failed to meet Wall Street analysts’ expectations, and the number of monthly active users and average revenue per user were also slightly lower than expected, driving its after hours share price to fall sharply by more than 4%.

Main performance in the second quarter:

——Meta’s revenue in the second quarter was US $28.822 billion, a decrease of 1% compared with us $29.077 billion in the same period last year, and a year-on-year increase of 3% excluding the impact of exchange rate changes;

——Meta’s operating profit in the second quarter was $8.358 billion, down 32% from $12.367 billion in the same period last year;

——Meta’s operating profit margin in the second quarter was 29%, compared with 43% in the same period last year;

——Meta’s net profit in the second quarter was $6.687 billion, down 36% from $10.394 billion in the same period last year;

——Meta’s diluted earnings per share in the second quarter was $2.46, down 32% from $3.61 in the same period last year.

Key points of operation in the second quarter:

——In June 2022, the average number of daily active users (DAP) of meta service “family” (including facebooka, instagram, WhatsApp, Messenger and other services) was 2.88 billion, an increase of 4% compared with the same period last year;

——As of June 30, 2022, the monthly number of active users (map) of meta service “family” was 3.65 billion, an increase of 4% compared with the same period last year;

——In June 2022, the average number of Facebook’s daily active users (dau) was 1.97 billion, an increase of 3% over the same period last year;

——As of June 30, 2022, the monthly number of Facebook active users (MAU) was 2.93 billion, an increase of 1% over the same period last year;

——In the second quarter of meta application “family”, the advertising impression per advertisement increased by 15% compared with the same period last year, and the average price per advertisement increased by 14% compared with the same period last year;

——Meta’s capital expenditure in the second quarter (including the principal payment of financial leases) was $7.75 billion;

——Meta repurchased US $5.08 billion of class a common shares in the second quarter. As of June 30, 2022, meta’s authorized remaining repurchase amount was $24.32 billion.

——By the end of the second quarter of 2022, the total amount of cash, cash equivalents and marketable securities held by meta was US $40.49 billion;

——As of June 30, 2022, the total number of employees of meta was 83553, an increase of 32% compared with the same period last year.

Mark Zuckerberg, the founder and CEO of meta, said: “We are pleased to see that our user engagement trend has shown a positive trajectory this quarter, which comes from products such as reels and our investment in artificial intelligence. We are putting more energy and focus on key corporate priorities to release short-term and long-term opportunities for meta and individuals and enterprises using our services.”

Financial analysis:

Revenue:

Meta’s revenue in the second quarter was $28.822 billion, down 1% from $29.077 billion in the same period last year. Excluding the impact of exchange rate changes, it increased by 3% year-on-year.

——Meta’s revenue from advertising business in the second quarter was $28.152 billion, a decrease of 1% compared with $28.58 billion in the same period last year, and a year-on-year increase of 3% excluding the impact of exchange rate changes.

——Meta’s other revenue in the second quarter was $218 million, compared with $192 million in the same period last year.

Costs and expenses:

The total cost and expenditure of meta in the second quarter was US $20.464 billion, an increase of 22% compared with us $16.71 billion in the same period last year. Among them, the revenue cost was $5.192 billion, compared with $5.399 billion in the same period last year; R & D expenditure was $8.690 billion, compared with $6.096 billion in the same period last year; Marketing and sales expenditure was $3.595 billion, compared with $3.259 billion in the same period last year; General and administrative expenditure was $2.987 billion, compared with $1.956 billion in the same period last year.

Operating profit:

Meta’s operating profit in the second quarter was $8.358 billion, down 32% from $12.367 billion in the same period last year.

Operating profit margin:

Meta’s operating profit margin in the second quarter was 29%, compared with 43% in the same period last year.

Income tax reserve and effective tax rate:

Meta’s income tax reserve in the second quarter was $1499 million, compared with $2111.9 million in the same period last year, a year-on-year decrease of 292%. The effective tax rate of meta in the second quarter was 18%, compared with 17% in the same period last year.

Net profit:

Meta’s net profit in the second quarter was $6.687 billion, down 36% from $10.394 billion in the same period last year;

Meta’s diluted earnings per share in the second quarter was $2.46, down 32% from $3.61 in the same period last year.

Capital expenditure:

Meta’s capital expenditure in the second quarter (including the principal payment of financial leases) was $7.75 billion.

Cash and Securities:

By the end of the second quarter of 2022, the total amount of cash, cash equivalents and marketable securities held by meta was US $40.49 billion.

Operating cash flow and free cash flow:

Meta’s net cash from business operations in the second quarter was $12.197 billion, compared with $13.246 billion in the same period last year. Meta’s free cash flow in the second quarter was $4.45 billion, compared with $8.511 billion in the same period last year.

Total number of employees:

As of June 30, 2022, the total number of employees of meta was 83553, an increase of 32% compared with the same period last year.

Teleconferencing:

After the release of the financial report, meta will hold a conference call at 5 p.m. Eastern time on July 27 (5 a.m. Beijing time on July 28) to answer the questions of analysts and investors. Investors can log in to the investor relations channel of meta website http://investor.fb.com/ Listen to the live teleconference and view the company’s financial statements.

After the conference call, investors can also log in to the same page to listen to the recording of meta earnings conference call. Within one week after the conference call, investors can call +1 (402) 977-9140 or +1 (800) 633-8284 to listen to the recording, and the password is “22019375”.

Analyst expectations and share price changes:

Meta’s revenue in the second quarter was $28.822 billion, which failed to meet the previous expectations of Wall Street analysts. According to the data provided by Yahoo Finance Channel, 38 analysts on average expected meta’s second quarter revenue to reach $28.94 billion.

Meta’s diluted earnings per share in the second quarter was $2.46, which also failed to meet analysts’ expectations. According to the data provided by Yahoo Finance Channel, 40 analysts on average expected meta’s second quarter earnings per share to reach $2.61.

At the same time, the average number of daily active users of Facebook under meta was 1.97 billion, slightly higher than the 1.96 billion previously expected by analysts surveyed by streetaccount; The monthly number of active users was 2.93 billion, which failed to meet the previous average expectation of 2.94 billion analysts surveyed by streetaccount. In addition, meta’s average revenue per user (ARPU) was $9.82, slightly lower than the previous average expectation of $9.83 by analysts surveyed by streetaccount.

After the release of the financial report, meta’s share price fell sharply by more than 4% in after hours trading on NASDAQ.

On the same day, meta shares rose $10.43, or 6.55%, to $169.58 in regular trading on NASDAQ. In the subsequent after hours trading as of 6:02 p.m. EDT on Wednesday (6:02 a.m. Beijing time on Thursday), meta shares fell $7.18, or 4.23%, to $162.40. In the past 52 weeks, the highest price of meta was $384.33 and the lowest price was $154.25.

Read more: meta financial report: Q4 meta net profit in 2021 was $10.285 billion, down 8% year-on-year. In 2021, Amazon’s lobbying expenses reached $20.3 million, a record high. The NASDAQ fell by more than 4%, and the market value of the seven technology giants evaporated by 7 trillion in three days. Meta: Zuckerberg’s personal wealth decreased by nearly $40billion this year, falling out of the top 10 rich list. Real business rescue: the market value of technology giants is unbeatable, and Apple’s market value will rank eighth in the world More than 2000 global metauniverse patent applications have been filed in five years. Microsoft and Samsung have all passed 100 meta: in February 2022, meta’s social VR platform horizon had 300000 monthly active people. Rockerbox: in Q2, meta accounted for 31.7% of its total customer expenditure. Meta: 2022 white paper on home appliances and 3C products going to sea. 2021 apps big winners: tiktok, meta, tinder, free fire, robox, who else? Blue Hole financial report: in 2022, Q1 Blue Hole PC sales reached US $82.3 million, with a year-on-year increase of 61% Meta financial report: Q1 meta net profit in 2022 fiscal year was US $7.465 billion, with a year-on-year decrease of 21%. Tencent: Q2 2014 bat financial report of the three Internet giants, big pkverizon financial report: in 2018 Q1, Verizon smart device users increased by 359000 units, accumulated electricity: 3q20 revenue was NT $356.43 billion, and the net profit increased by 36%

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