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In the third quarter of 2024, Meta's net income amounted to15.6 billion U.S. dollars, up from 13 billion when compared to the previous quarter.

Facebook company information

Facebook is the biggest social network worldwide. The platform generates the vast majority of its revenues through advertising – as of March 2020, 98 percent of Facebook’s revenues were derived from ad sales, making the company highly dependent on market regulations regarding digital ad sales. In 2019, Facebook was second only to Google in terms of digital advertising revenues. The company’s ad revenue during this period amounted to 69.7 billion U.S. dollars. Facebook is still among the fastest-growing tech companies in the world. In 2020, the company increased its revenue by 21.6 percent compared to the previous year. Facebook founder Mark Zuckerberg also ranks among the richest internet billionaires with a personal net worth of roughly 97 billion U.S. dollars.

Net income generated by Meta Platforms from 2nd quarter 2010 to 3rd quarter 2024 (in million U.S. dollars)

Characteristic	Net income in million U.S. dollars
Q3 '24	15,688
Q2 '24	13,465
Q1 '24	12,369
Q4 '23	14,017
Q3 '23	11,583
Q2 '23	7,788
Q1 '23	5,709
Q4 '22	4,652
Q3 '22	4,395
Q2 '22	6,687
Q1 '22	7,465
Q4 '21	10,285
Q3 '21	9,194
Q2 '21	10,394
Q1 '21	9,497
Q4 '20	11,219
Q3 '20	7,846
Q2 '20	5,178
Q1 '20	4,902
Q4 '19	7,349
Q3 '19	6,091
Q2 '19	2,616
Q1 '19	2,429
Q4 '18	6,882
Q3 '18	5,137
Q2 '18	5,106
Q1 '18	4,988
Q4 '17	4,268
Q3 '17	4,707
Q2 '17	3,894
Q1 '17	3,064
Q4 '16	3,568
Q3 '16	2,627
Q2 '16	2,283
Q1 '16	1,738
Q4 '15	1,562
Q3 '15	896
Q2 '15	719
Q1 '15	512
Q4 '14	701
Q3 '14	806
Q2 '14	791
Q1 '14	642
Q4 '13	523
Q3 '13	425
Q2 '13	333
Q1 '13	219
Q4 '12	64
Q3 '12	-59
Q2 '12	-157
Q1 '12	205
Q4 '11	302
Q3 '11	227
Q2 '11	240
Q1 '11	233
Q4 '10	251
Q3 '10	131
Q2 '10	129
Q1 '10	95

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Release date

November 2024

More information

Region

Worldwide

Survey time period

Q1 2010 to Q3 2024

Special properties

GAAP net income

Supplementary notes

In the fourth quarter of 2016, Facebook elected to early adopt ASU 2016-09. As such, 2016 quarterly GAAP net income includes the impact of the ASU 2016-09 adoption. Q1 2019 includes a 3 billion U.S. dollar legal expense accrued in Q1 2019 related to the ongoing FTC matter as discussed in Q1 2019 press release. Q2 2019 includes an additional $2.0 billion legal expense accrued in the second quarter of 2019 related to the FTC settlement and $1.1 billion in income taxes due to the developments in AlteraCorp. v. Commissioner as discussed in Q2 2019 Press Release. Q3 of 2020 reflects a one-time income tax benefit of 913 million U.S. dollars related to effects of a tax election to capitalize and amortize certain research and development expenses for purposed related to the U.S. income tax.

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