Meta Platforms Q2 2024 10-Q Filing

Ticker: META · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 1326801

Meta Platforms, Inc. 10-Q Filing Summary
FieldDetail
CompanyMeta Platforms, Inc. (META)
Form Type10-Q
Filed DateAug 1, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$0.000006
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, quarterly-filing, financials

Related Tickers: META

TL;DR

Meta's Q2 10-Q is in: financials and biz updates for the period ending 6/30/24.

AI Summary

Meta Platforms, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024, detailing financial performance and operational updates. Key financial figures and business segment information are presented for the reporting period and comparative periods.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational details for Meta Platforms, Inc., crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently introduce new risks.

Key Numbers

  • 2024 Q2 — Reporting Period (Second quarter of 2024 financial data)
  • 12/31 — Fiscal Year End (Meta's fiscal year concludes on December 31st)

Key Players & Entities

  • Meta Platforms, Inc. (company) — Filer of the 10-Q
  • 2024-06-30 (date) — End of the reporting period
  • 2024-08-01 (date) — Filing date

FAQ

What is the primary purpose of this 10-Q filing?

The primary purpose of this 10-Q filing is to provide Meta Platforms, Inc.'s quarterly financial performance and operational updates for the period ending June 30, 2024.

What is the filing date of this 10-Q?

This 10-Q filing was made on August 1, 2024.

What is the reporting period covered by this 10-Q?

This 10-Q filing covers the period ending June 30, 2024, specifically the second quarter of 2024.

What is Meta Platforms, Inc.'s fiscal year end?

Meta Platforms, Inc.'s fiscal year ends on December 31st.

What is the SEC file number for Meta Platforms, Inc.?

The SEC file number for Meta Platforms, Inc. is 001-35551.

Filing Stats: 4,715 words · 19 min read · ~16 pages · Grade level 17.8 · Accepted 2024-07-31 20:14:40

Key Financial Figures

  • $0.000006 — which registered Class A Common Stock, $0.000006 par value META The Nasdaq Stock Market

Filing Documents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 6 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 6 Condensed Consolidated Balance Sheets— June 3 0 , 2024 and December 31, 20 23 6 Condensed Consolidated Statements of Income—for the three and six months ended June 3 0 , 2024 and 20 23 7 Condensed Consolidated Statements of Comprehensive Income—for the three and six months ended June 30 , 2024 and 20 23 8 Condensed Consolidated Statements of Stockholders' Equity—for the three and s ix months ended June 30 , 2024 and 20 23 9 Condensed Consolidated Statements of Cash Flows—for the six months ended June 30 , 2024 and 20 23 10 Notes to Condensed Consolidated Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 47

—OTHER INFORMATION

PART II—OTHER INFORMATION 48 Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 53 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 89 Item 5. Other Information 90 Item 6. Exhibits 91

SIGNATURES

SIGNATURES 92 2 Table of Contents NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in Part II, Item 1A, "Risk Factors" in this Quarterly Report on Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this Quarterly Report on Form 10-Q may not occur and actual results could differ materially and adversely from those anticipated or implied in the forwardlooking statements. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, re

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements META PLATFORMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except for number of shares and par value) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 32,045 $ 41,862 Marketable securities 26,035 23,541 Accounts receivable, net 14,505 16,169 Prepaid expenses and other current assets 3,846 3,793 Total current assets 76,431 85,365 Non-marketable equity securities 6,207 6,141 Property and equipment, net 102,959 96,587 Operating lease right-of-use assets 14,058 13,294 Goodwill 20,654 20,654 Other assets 9,929 7,582 Total assets $ 230,238 $ 229,623 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,173 $ 4,849 Operating lease liabilities, current 1,917 1,623 Accrued expenses and other current liabilities 21,914 25,488 Total current liabilities 27,004 31,960 Operating lease liabilities, non-current 17,685 17,226 Long-term debt 18,389 18,385 Long-term income taxes 7,897 7,514 Other liabilities 2,500 1,370 Total liabilities 73,475 76,455 Commitments and contingencies Stockholders' equity: Common stock, $ 0.000006 par value; 5,000 million Class A shares authorized, 2,188 million and 2,211 million shares issued and outstanding, as of June 30, 2024 and December 31, 2023, respectively; 4,141 million Class B shares authorized, 345 million and 350 million shares issued and outstanding, as of June 30, 2024 and December 31, 2023, respectively — — Additional paid-in capital 78,270 73,253 Accumulated other comprehensive loss ( 2,695 ) ( 2,155 ) Retained earnings 81,188 82,070 Total stockholders' equity 156,763 153,168 Total liabilities and stockholders' equity $ 230,238 $ 229,623 See Accompanying Notes to Condensed Consolidated Financial Statements. 6 Table of Contents META PLATFORMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) (Unaudited) Three Months Ended June 30, Six Mo

View Full Filing

View this 10-Q filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.