Direct Answer
Meta reported $164.5 billion in revenue for 2024 and $201.0 billion for 2025, with net income of $62.4 billion in 2024 and $60.5 billion in 2025. After a disastrous 2022 (revenue declined, net income fell 41%, stock dropped 64%), Meta's Year of Efficiency in 2023 cut costs and drove a dramatic earnings recovery.
Meta Platforms (META) Annual Revenue and Earnings History
Meta annual revenue, net income, net margin, and daily active users (2016-2025)
| Year | Revenue (B) | Net Income (B) | Net Margin | Daily Active Users |
|---|---|---|---|---|
| 2016 | $27.6 | $10.2 | 36.9% | 1.23B |
| 2018 | $55.8 | $22.1 | 39.6% | 1.52B |
| 2019 | $70.7 | $18.5 | 26.1% | 1.66B |
| 2020 | $86.0 | $29.1 | 33.8% | 1.84B |
| 2021 | $117.9 | $39.4 | 33.4% | 1.93B |
| 2022 | $116.6 | $23.2 | 19.9% | 1.98B |
| 2023 | $134.9 | $39.1 | 29.0% | 2.11B |
| 2024 | $164.5 | $62.4 | 37.9% | n/a |
| 2025 | $201.0 | $60.5 | 30.1% | n/a |
Source: Meta Investor Relations. Note: 2022 Reality Labs loss was $13.7B. Last verified: October 2026. Meta stopped reporting Facebook daily active users in 2024 (n/a); its family daily active people were 3.35 billion in December 2024 and 3.58 billion in December 2025.
Frequently asked questions
What caused Meta's 2022 collapse and 2023 recovery?
2022 pressures: Apple's iOS 14.5 privacy changes (App Tracking Transparency) disrupted Meta's ad targeting; Reality Labs (metaverse investment) lost $13.7 billion; digital advertising market contracted broadly; TikTok competition accelerated user attention loss among younger demographics; Meta headcount reached an unsustainable 87,000 employees. 2023 recovery: Meta's Year of Efficiency cut headcount by 21,000 (to approximately 67,000); advertising technology adapted to iOS privacy changes; Reels (TikTok competitor) monetization improved; AI tools improved ad targeting despite iOS restrictions.
How does Meta make money?
Meta generates approximately 97-98% of revenue from advertising across Facebook (timeline ads, right-column ads), Instagram (feed ads, Stories ads, Reels ads), Messenger, and WhatsApp. The remaining 2-3% includes Reality Labs products (Meta Quest VR headsets) and other items. Meta's ad business depends on user engagement data: the longer users stay on the platform and the more they interact, the more Meta knows about their interests, enabling highly targeted ads. Approximately 10 million advertisers actively use Meta's ad platform. Average revenue per user in North America is approximately $65/year vs. approximately $13/year globally.
What is Reality Labs and how much does it cost?
Reality Labs is Meta's division building VR/AR hardware (Meta Quest headsets) and metaverse software. It has operated at significant losses since establishment as a separate reporting segment in 2020: cumulative losses through 2024 exceed $60 billion ($10.2B in 2022, $16.1B in 2023, approximately $20B in 2024). Meta Quest holds approximately 75% of the consumer VR headset market but the market remains small. Mark Zuckerberg has explicitly committed to multi-year investment in Reality Labs as a long-term bet on the metaverse and spatial computing.
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Swoopr Editorial Team. (2026). Meta Platforms (META) Annual Revenue and Earnings History. Swoopr Investment. https://www.getswoopr.com/tables/company/meta-revenue-earnings-history/
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