Meta Reports First Quarter 2022 Results

April 27, 2022

MENLO PARK, Calif. /PRNewswire/ -- Meta Platforms, Inc. (Nasdaq: FB) today reported financial results for the quarter ended March 31, 2022.

First Quarter 2022 Operational and Other Financial Highlights

• Family daily active people (DAP) – DAP was 2.87 billion on average for March 2022, an increase of 6% year-over-year.

• Family monthly active people (MAP) – MAP was 3.64 billion as of March 31, 2022, an increase of 6% year-over-year.

• Facebook daily active users (DAUs) – DAUs were 1.96 billion on average for March 2022, an increase of 4% year-over-year.

• Facebook monthly active users (MAUs) – MAUs were 2.94 billion as of March 31, 2022, an increase of 3% year-over-year.

• Ad impressions and price per ad – In the first quarter of 2022, ad impressions delivered across our Family of Apps increased by 15% year-over-year and the average price per ad decreased by 8% year-over-year.

• Capital expenditures – Capital expenditures, including principal payments on finance leases, were $5.55 billion for the first quarter of 2022.

• Share repurchases – We repurchased $9.39 billion of our Class A common stock in the first quarter of 2022. As of March 31, 2022, we had $29.41 billion available and authorized for repurchases.

• Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $43.89 billion as of March 31, 2022.

• Headcount – Headcount was 77,805 as of March 31, 2022, an increase of 28% year-over-year.

CFO Outlook Commentary

We expect second quarter 2022 total revenue to be in the range of $28-30 billion. This outlook reflects a continuation of the trends impacting revenue growth in the first quarter, including softness in the back half of the first quarter that coincided with the war in Ukraine. Our guidance assumes foreign currency will be approximately a 3% headwind to year-over-year growth in the second quarter, based on current exchange rates.

In addition, as noted on previous calls, we continue to monitor developments regarding the viability of transatlantic data transfers and their potential impact on our European operations, and we are pleased with the progress on a political agreement.

We expect 2022 total expenses to be in the range of $87-92 billion, lowered from our prior outlook of $90-95 billion. We expect 2022 expense growth to be driven primarily by the Family of Apps segment, followed by Reality Labs.

We expect 2022 capital expenditures, including principal payments on finance leases, to be in the range of $29-34 billion, unchanged from our prior estimate.

Absent any changes to U.S. tax law, we expect our full-year 2022 tax rate to be above the first quarter rate and in the high teens.

"We made progress this quarter across a number of key company priorities and we remain confident in the long-term opportunities and growth that our product roadmap will unlock," Mark Zuckerberg

Webcast and Conference Call Information

Meta will host a conference call to discuss the results at 2 p.m. PT / 5 p.m. ET today. The live webcast of Meta's earnings conference call can be accessed at investor.fb.com, along with the earnings press release, financial tables, and slide presentation. Meta uses the investor.fb.com and about.fb.com/news/ websites as well as Mark Zuckerberg's Facebook Page (facebook.com/zuck) and Instagram account (instagram.com/zuck) as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Following the call, a replay will be available at the same website. A telephonic replay will be available for one week following the conference call at +1 (416) 626-4100 or +1 (800) 558-5253, conference ID 22016731.

Transcripts of conference calls with publishing equity research analysts held today will also be posted to the investor.fb.com website.

About Meta

Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.

Contacts

Investors: Deborah Crawford investor@fb.com / investor.fb.com

Press: Ryan Moore press@fb.com / about.fb.com/news/

Link to Full Press Release

https://investor.fb.com/investor-news/press-release-details/2022/Meta-Reports-First-Quarter-2022-Results/default.aspx

HKEX President and COO Calvin Tai to Retire

May 06, 2022

HONG KONG. Hong Kong Exchanges and Clearing Limited (HKEX) today (Friday) announced that Calvin Tai, President and Chief Operating Officer, will retire at the end of May after a long and distinguished career at HKEX Group.

Hong Kong Exchanges and Clearing Limited (HKEX) today (Friday) announced that Calvin Tai, President and Chief Operating Officer, will retire at the end of May after a long and distinguished career at HKEX Group.

Mr Tai will also retire as Chief Executive of The Stock Exchange of Hong Kong Limited (SEHK) and Hong Kong Futures Exchange Limited (HKFE). His retirement takes effect on 31 May 2022.

HKEX Chief Executive Officer, Nicolas Aguzin, said: “Calvin has been a highly valued member of the HKEX leadership team over many years. He has played a key role throughout his tenure in leading a vast range of initiatives that support the continuous enhancement of our markets and infrastructure, ensuring our long-term sustainability and resiliency. We would like to extend our sincere and deep gratitude for his dedication and passion in the development of HKEX and Hong Kong’s markets over the last two and half decades. On behalf of all our colleagues, I would like to thank Calvin for his many contributions and wish him a very happy retirement.”

Mr Tai joined the HKFE in July 1998 and has held a number of senior roles within the HKEX Group, including Interim Chief Executive, Head of Clearing, Co-Head of Equities and FIC Business, and Head of Trading Division.

HKEX is pleased to name John Buckley, Head of Exchange Operations and Transformation, and Wilfred Yiu, Co-Head of Markets, as Co-Chief Operating Officers following Mr Tai’s retirement. Mr Yiu will also succeed Mr Tai as Chief Executive of SEHK and HKFE. The new appointments will take effect on 1 June 2022.

“On behalf of all our colleagues, I would like to thank Calvin for his many contributions and wish him a very happy retirement.” Nicolas Aguzin

“I’m delighted to announce the appointments of Wilfred and John as Co-COOs of HKEX. They are both extremely capable and seasoned executives, with deep knowledge of our markets, our infrastructure and products. I look forward to working closely with them and the entire management team, as we drive forward with our vision to build the Marketplace of the Future,” said Mr Aguzin.

In their new roles, Mr Buckley will continue to have oversight of the HKEX exchange operations and transformation functions, whilst Mr Yiu will also continue in his role as Co-Head of Markets.

Mr Buckley joined HKEX in December 2021 from Citadel, where he was Chief Operating Officer, Asia, for three years. Previously, Mr Buckley held various senior roles at a number of international financial institutions.

Mr Yiu joined HKEX in April 2019 as Head of Markets, where he had responsibility for the Group’s equity and derivatives markets business and operations. Mr Yiu previously had a long career with Goldman Sachs, and was Deputy CEO and Chief Operating Officer at Beijing Gao Hua Securities.

Please refer to the following regulatory announcement for biographies of Mr Buckley and Mr Yiu.

About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.

HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.

HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.

INCREASING THE CAPITAL OF INVESTMENT HOLDING BY ADDING THE SHARES RESULTING FROM THE ACQUISITION OF

May 08, 2022. DOHA.

Qatar Central Securities Depository has increased the capital of Investment Holding Group by adding the shares resulting from the acquisition of Elegancia Group, which equals to 2,574,037,500 shares. The new capital is now 3,404,037,500 shares.

Please note that no change in the Index Free Float for Investment Holding Group (IGRD), used in QE Index and QE All Share Index, QE All Share Industrials Index and QE Al Rayan Islamic Index.