Meta Platforms, Inc. Q1 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Overview

  • Facebook reported a strong first quarter, driven by continued growth in digital advertising and increased consumer and business engagement across its family of apps.
  • Daily active people across Facebook’s family of services reached 2.7 billion, and monthly active people reached 3.4 billion.
  • Facebook continued significant investments in augmented and virtual reality (AR/VR), commerce tools, business messaging, and creator-focused tools.

Key Financial Results (Compared to Q1 2020)

  • Total revenue: $26.2 billion, up 48% year-over-year.
  • Advertising revenue: $25.4 billion, up 46% year-over-year.
  • Other revenue: $732 million, up 146%, driven by strong Quest 2 VR device sales.
  • Operating income: $11.4 billion, up from $8.0 billion (43% operating margin).
  • Net income: $9.5 billion, or $3.30 per share (up from $4.9 billion).
  • Total expenses: $14.8 billion, up 25% year-over-year.
  • Free cash flow: $7.8 billion.
  • Cash and marketable securities: $64.2 billion.

User & Engagement Metrics

  • Facebook Daily Active Users (DAUs): 1.88 billion (up 8%, or 144 million year-over-year).
  • Facebook Monthly Active Users (MAUs): 2.85 billion (up 10%, or 250 million year-over-year).
  • Family Daily Active People: roughly 2.7 billion.
  • Family Monthly Active People: roughly 3.4 billion.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good afternoon. My name is France, and I will be your conference operator today. At this time, I would like to welcome everyone to Facebook First Quarter 2021 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] This call will be recorded. Thank you very much. Ms. Deborah Crawford, Facebook's Vice President of Investor Relations, you may begin. Deborah Crawford: Thank you. Good afternoon, and welcome to Facebook's first quarter earnings conference call. Joining me today to discuss our results are Mark Zuckerberg, CEO; Sheryl Sandberg, COO; and Dave Wehner, CFO. Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in today's press release and in our annual report on Form 10-K filed with the SEC. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events. During this call, we may present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's earnings press release. The press release

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional