During the reported quarter, the total revenue of the Facebook parent company was $33.67bn, which is a 20% increase compared to the total revenue of $28.07bn posted in the fourth quarter of 2020
Meta founder and CEO Mark Zuckerberg. (Credit: Meta)
Meta has registered a net income of $10.28bn for the fourth quarter of 2021 (Q4 2021), a decrease of 8% compared to $11.22bn in the same quarter of the previous year.
In the preceding quarter, that is Q3 2021, the social technology company had a net income of $9.19bn.
Its diluted earnings per share for the quarter ended 31 December 2021 were $3.67, a 5% decrease compared to $3.88 in Q4 2020.
During the reported quarter, Meta earned total revenue of $33.67bn, which is a 20% increase compared to $28.07bn in Q4 2020. In October 2021, the company had estimated its Q4 2021 total revenue to be in the range of $31.5bn and $34bn.
In Q3 2021, Meta’s total revenue was $29.01bn.
For the full year ended 31 December 2021, Meta’s net income was $39.37bn, which is a 35% surge compared to $29.14bn made in 2020.
The company’s 2021 revenue increased by 37% to $117.93bn, compared to revenue of $85.96bn in 2020.
Starting from Q4 2021, Meta said that its financial results will be reported based on two reportable segments, which are family of apps (FoA) and reality labs (RL).
The FoA unit, which includes Facebook, Messenger, Instagram, WhatsApp and other services, posted revenue of $32.79bn in Q4 2021, compared to revenue of $27.35bn in the corresponding period of the previous year.
Reality labs, which includes augmented and virtual reality (AR and VR) related consumer hardware, software, and content, had revenue of $877m in the reported quarter, compared to $717m in Q4 2020.
Meta’s advertising revenue for Q4 2021 was $ 32.64bn, compared to $27.18bn in the same period of the previous year.
The company said that the daily active users (DAUs) for Facebook were 1.93 billion on average for December 2021, which is a 5% growth year-over-year.
Meta founder and CEO Mark Zuckerberg said: “We had a solid quarter as people turned to our products to stay connected and businesses continued to use our services to grow.
“I’m encouraged by the progress we made this past year in a number of important growth areas like Reels, commerce, and virtual reality, and we’ll continue investing in these and other key priorities in 2022 as we work towards building the metaverse.”
In October 2021, Zuckerberg announced that Facebook had changed its name to Meta to reflect its transformation into a social technology company with a focus on the metaverse.