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2 2  {{toc/}}
3 3  {{/box}}
4 4  
5 -= Overview =
5 += Summary =
6 6  
7 -META's (formerly Facebook) mission is to give people the power to build community and bring the world closer together.
7 +* Meta Platforms, Inc., develops and maintain social media applications.
8 +* Meta Platforms owns Facebook, Instagram, Messenger, WhatsApp.
9 +* Meta Platforms announced Meta Quest Pro in October 2022
8 8  
9 -The company's top priority is to build useful and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, and other surfaces. The company also help people discover and learn about what is going on in the world around them, enable people to share their opinions, ideas, photos and videos, and other activities with audiences ranging from their closest friends to the public at large, and stay connected everywhere by accessing its products, including:{{footnote}}https://fintel.io/doc/sec-fb-facebook-10k-2018-february-01-17946{{/footnote}}
10 10  
11 -* Facebook enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers. There are a number of different ways to engage with people on Facebook, the most important of which is News Feed which displays an algorithmically-ranked series of stories and advertisements individualized for each person.
12 -* Instagram. Instagram is a community for sharing visual stories through photos, videos, and direct messages. Instagram is also a place for people to stay connected with the interests and communities that they care about.
13 -* Messenger. Messenger is a messaging application that makes it easy for people to connect with other people, groups and businesses across a variety of platforms and devices.
14 -* WhatsApp. WhatsApp is a fast, simple, and reliable messaging application that is used by people around the world to connect securely and privately.
15 -* Oculus. The company's Oculus virtual reality technology and content platform power products that allow people to enter a completely immersive and interactive environment to train, learn, play games, consume content, and connect with others.
12 +[[image:META0.jpg||height="276" width="722"]]
16 16  
17 -The company generate substantially all of its revenue from selling advertising placements to marketers. The company's ads enable marketers to reach people based on a variety of factors including age, gender, location, interests, and behaviors. Marketers purchase ads that can appear in multiple places including on Facebook, Instagram, Messenger, and third-party applications and websites.
18 18  
19 -Facebook is also investing in a number of longer-term initiatives, such as connectivity efforts, artificial intelligence research, and augmented and virtual reality, to develop technologies that the company believe will help it better serve its communities and pursue its mission to give people the power to build community and bring the world closer together.
20 20  
21 -{{putFootnotes/}}
16 +Meta Platforms, Inc. (Nasdaq: META) develops and maintain social media applications. The company was founded by Mark Elliot Zuckerberg in 2004, with the launch of Facebook 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.
22 22  
23 -= Competition =
24 24  
25 -The company's business is characterized by innovation, rapid change, and disruptive technologies. The company compete with companies that sell advertising, as well as with companies that provide social, media, and communication products and services that are designed to engage users on mobile devices and online. The company face significant competition in every aspect of its business, including from companies that facilitate communication and the sharing of content and information, companies that enable marketers to display advertising, companies that distribute video and other forms of media content, and companies that provide development platforms for applications developers. The company compete to attract, engage, and retain people who use its products, to attract and retain marketers, and to attract and retain developers to build compelling mobile and web applications that integrate with its products.
19 +== Family of Apps ==
26 26  
27 -The company also compete with the following:
21 +**Facebook**
28 28  
29 -* Companies that offer products across broad platforms that replicate capabilities the company provide. For example, Google has integrated social functionality into a number of its products, including search, video, and Android.
30 -* Companies that develop applications, particularly mobile applications, that provide social or other communications functionality, such as messaging, photo- and video-sharing, and micro-blogging.
31 -* Companies that provide regional social networks that have strong positions in particular countries.
32 -* Traditional, online, and mobile businesses that provide media for marketers to reach their audiences and/or develop tools and systems for managing and optimizing advertising campaigns.
33 -* Companies that develop and deliver virtual reality products and services.
23 +Facebook helps give people the power to build community and bring the world closer together. It's a place for people to share life's moments and discuss what's happening, nurture and build relationships, discover and connect to interests, and create economic opportunity. They can do this through News Feed, Stories, Groups, Watch, Marketplace, Reels, Dating, and more.
34 34  
35 -As the company introduce or acquire new products, as its existing products evolve, or as other companies introduce new products and services, the company may become subject to additional competition.
36 36  
37 -{{putFootnotes/}}
26 +**Instagram**
38 38  
39 -= Technology =
28 +Instagram brings people closer to the people and things they love. Instagram Feed, Stories, Reels, Video, Live, Shops, and messaging are places where people and creators can express themselves and push culture forward through photos, video, and private messaging, and connect with and shop from their favorite businesses.
40 40  
41 -The company's product development philosophy is centered on continuous innovation in creating and improving products that are social by design, which means that its products are designed to place people and their social interactions at the core of the product experience. As its user base grows, and the level of engagement from the people who use its products continues to increase, including with video, its computing needs continue to expand. The company make significant investments in technology both to improve its existing products and services and to develop new ones, as well as for its marketers and developers. Facebook is also investing in protecting the security and integrity of its platform by investing in both people and technology to strengthen its systems against abuse.
42 42  
43 -The company's technology investments included research and development expenses of $7.75 billion, $5.92 billion and $4.82 billion in 2017, 2016 and 2015, respectively. For information about its research and development expenses, see Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations—Research and development" of this Annual Report on Form 10-K.
31 +**Messenger**
44 44  
45 -= Sales and Operations =
33 +Messenger is a simple yet powerful messaging application for people to connect with friends, family, groups, and businesses across platforms and devices through chat, audio and video calls, and Rooms.
46 46  
47 -The majority of its marketers use its self-service ad platform to launch and manage their advertising campaigns. The company also have a global sales force that is focused on attracting and retaining advertisers and providing support to them throughout the stages of the marketing cycle from pre-purchase decision-making to real-time optimizations to post-campaign analytics. The company work directly with these advertisers, through traditional advertising agencies, and with an ecosystem of specialized agencies and partners. The company currently operate six support offices and more than 40 sales offices around the globe. The company also invest in and rely on self-service tools to provide direct customer support to its users and partners.
48 48  
49 -= Marketing =
36 +**WhatsApp**
50 50  
51 -To date, its communities have grown organically with people inviting their friends to connect with them, supported by internal efforts to stimulate awareness and interest. In addition, Facebook has invested and will continue to invest in marketing its products and services to build its brand, grow its user base, and increase engagement around the world. The company leverage the utility of its products and its social distribution channels as its most effective marketing tools.
38 +WhatsApp is a simple, reliable, and secure messaging application that is used by people and businesses around the world to communicate and transact in a private way.
52 52  
53 -= Intellectual Property =
54 54  
55 -To establish and protect its proprietary rights, the company rely on a combination of patents, trademarks, copyrights, trade secrets, including know-how, license agreements, confidentiality procedures, non-disclosure agreements with third parties, employee disclosure and invention assignment agreements, and other contractual rights. In addition, to further protect its proprietary rights, from time to time Facebook has purchased patents and patent applications from third parties. The company do not believe that its proprietary technology is dependent on any single patent or copyright or groups of related patents or copyrights. The company believe the duration of its patents is adequate relative to the expected lives of its products.
41 +== Reality Labs ==
56 56  
57 -= Government Regulation =
43 +**Reality Labs**
58 58  
59 -Facebook is subject to a number of U.S. federal and state and foreign laws and regulations that affect companies conducting business on the Internet. Many of these laws and regulations are still evolving and being tested in courts, and could be interpreted in ways that could harm its business. These may involve user privacy, data protection and personal information, rights of publicity, content, intellectual property, advertising, marketing, distribution, data security, data retention and deletion, electronic contracts and other communications, competition, protection of minors, consumer protection, telecommunications, product liability, taxation, economic or other trade prohibitions or sanctions, securities law compliance, and online payment services. In particular, Facebook is subject to federal, state, and foreign laws regarding privacy and protection of people's data. Foreign data protection, privacy, content, competition, and other laws and regulations can be more restrictive than those in the United States. U.S. federal and state and foreign laws and regulations, which in some cases can be enforced by private parties in addition to government entities, are constantly evolving and can be subject to significant change. As a result, the application, interpretation, and enforcement of these laws and regulations are often uncertain, particularly in the new and rapidly evolving industry in which the company operate, and may be interpreted and applied inconsistently from country to country and inconsistently with its current policies and practices.
45 +Reality Labs' augmented and virtual reality products help people feel connected, anytime, anywhere. Meta Quest lets people defy distance with cutting-edge VR hardware, software, and content. Facebook Portal video calling devices help friends and families stay connected and share the moments that matter in meaningful ways.
60 60  
61 -Proposed or new legislation and regulations could also significantly affect its business. There currently are a number of proposals pending before federal, state, and foreign legislative and regulatory bodies. In addition, the new European General Data Protection Regulation (GDPR) will take effect in May 2018 and will apply to all of its products and services that provide service in Europe. The GDPR will include operational requirements for companies that receive or process personal data of residents of the European Union that are different than those currently in place in the European Union, and will include significant penalties for non-compliance. Similarly, there are a number of legislative proposals in the United States, at both the federal and state level, that could impose new obligations in areas affecting its business, such as liability for copyright infringement by third parties. In addition, some countries are considering or have passed legislation implementing data protection requirements or requiring local storage and processing of data or similar requirements that could increase the cost and complexity of delivering its services.
62 62  
63 -Facebook is currently, and may in the future be, subject to regulatory orders or consent decrees. Violation of existing or future regulatory orders or consent decrees could subject it to substantial monetary fines and other penalties that could negatively affect its financial condition and results of operations.
64 64  
65 -Various laws and regulations in the United States and abroad, such as the U.S. Bank Secrecy Act, the Dodd-Frank Act, the USA PATRIOT Act, and the Credit CARD Act, impose certain anti-money laundering requirements on companies that are financial institutions or that provide financial products and services. Under these laws and regulations, financial institutions are broadly defined to include money services businesses such as money transmitters, check cashers, and sellers or issuers of stored value or prepaid access products. Requirements imposed on financial institutions under these laws include customer identification and verification programs, record retention policies and procedures, and transaction reporting. To increase flexibility in how its online payments infrastructure (Payments) may evolve and to mitigate regulatory uncertainty, Facebook has received certain money transmitter licenses in the United States and an Electronic Money (E-Money) license that allows it to conduct certain regulated payment activities in the participating member countries of the European Economic Area, which will generally require it to demonstrate compliance with many domestic and foreign laws relating to money transmission, gift cards and other prepaid access instruments, electronic funds transfers, anti-money laundering, charitable fundraising, counter-terrorist financing, gambling, banking and lending, financial privacy and data security, and import and export restrictions.
66 66  
67 -= Employees =
50 +Recent Developments
68 68  
69 -As of December 31, 2017, the company had 25,105 employees.
52 +Meta’s Progress in Augmented and Virtual Reality
70 70  
71 -= Executive Overview of Full Year 2017 Results =
54 +[[https:~~/~~/about.fb.com/news/2022/12/metas-progress-in-augmented-and-virtual-reality/>>url:https://about.fb.com/news/2022/12/metas-progress-in-augmented-and-virtual-reality/]]
72 72  
73 -The company's key user metrics and financial results for 2017 are as follows:
74 74  
75 -**User growth:**
57 +December 19, 2022; Meta shipped several of them in Meta Quest Pro: Mixed reality is a key part of the journey toward full augmented reality devices, and eye and face tracking are essential pieces of the technology stack needed for AR and VR devices to reach their full potential. Quest Pro also brought important advances in display and optics that will move VR hardware forward for the long term.
76 76  
77 -* Daily active users (DAUs) were 1.40 billion on average for December 2017, an increase of 14% year-over-year.
78 -* Monthly active users (MAUs) were 2.13 billion as of December 31, 2017, an increase of 14% year-over-year.
59 +Introducing Meta Reality
79 79  
80 -== Financial results: ==
61 +Mixed reality is about much more than just displaying a live video feed of your surroundings inside the headset. For it to work properly, the headset needs to understand your room as a 3D space, recognizing the surfaces and objects around you and how they can interact with digital objects. It requires technologies like Spatial Anchors, which allow virtual things to occupy fixed spaces in the physical world, as well as Scene Understanding for reconstructing physical spaces virtually, as well as stereoscopic color  Passthrough, for capturing the physical world and representing it accurately in the headset with a sense of depth for greater comfort. Meta Reality, its system for mixed reality, combines all these technologies and more into a single system for developers to build with.
81 81  
82 -* Revenue was $40.65 billion, up 47% year-over-year, and ad revenue was $39.94 billion, up 49% year-over-year.
83 -* Total costs and expenses were $20.45 billion.
84 -* Income from operations was $20.20 billion.
85 -* Net income was $15.93 billion with diluted earnings per share of $5.39.
86 -* Capital expenditures were $6.73 billion.
87 -* Effective tax rate was 23%.
88 -* Cash and cash equivalents, and marketable securities were $41.71 billion as of December 31, 2017.
89 -* Headcount was 25,105 as of December 31, 2017.
90 90  
91 -In 2017, the company continued to focus on its three main revenue growth priorities: (i) helping businesses expand their use of its mobile products, (ii) developing innovative ad products that help businesses get the most of their ad campaigns, and (iii) making its ads more relevant and effective through its targeting capabilities and outcome-based measurement.
64 +Eye and Face Tracking
92 92  
93 -The company continued to invest, based on its roadmap, in: (i) its most developed ecosystem, the Facebook app and platform as well as video, (ii) driving growth and building ecosystems around its products and features that already have significant user bases, such as Instagram, Messenger, and WhatsApp, and (iii) long-term technology initiatives, such as connectivity, artificial intelligence, and augmented and virtual reality, that the company believe will further its mission to give people the power to build community and bring the world closer together. The company intend to continue to invest based on this roadmap and the company anticipate that additional investments in the following areas will drive significant year-over-year expense growth in 2018: (i) increased investments in security, video content, and its long-term technology initiatives, and (ii) scaling its headcount and expanding its data center capacity and office facilities to support its growth.
66 +Eye and face tracking have a wealth of possibilities, both today and long into the future. Right now, eye and face tracking are delivering more expressive avatars on Meta Quest Pro, allowing people’s digital selves to more closely match their real-world facial expressions. This is one of many steps The company is taking to create an avatar system that can improve the quality of communication, expression, and connection in virtual spaces and we’ll have plenty more to share on this in 2023.
94 94  
95 -**Trends in The company's User Metrics**
68 +Introducing Infinite Display
96 96  
97 -The numbers for its key metrics, its DAUs, MAUs, and average revenue per user (ARPU), do not include Instagram, WhatsApp, or Oculus users unless they would otherwise qualify as such users, respectively, based on their other activities on Facebook. In addition, other user engagement metrics do not include Instagram, WhatsApp, or Oculus unless otherwise specifically stated.
98 98  
99 -Trends in the number of users affect its revenue and financial results by influencing the number of ads Facebook is able to show, the value of its ads to marketers, the volume of Payments transactions, as well as its expenses and capital expenditures. Substantially all of its daily and monthly active users (as defined below) access Facebook on mobile devices.
71 +The visual quality of a VR device depends on a range of technologies that go beyond the typical metrics we’ve used when describing the displays on a computer, TV or phone. Along with display resolution, factors like system resolution, sharpness, contrast and color range each play an important part. So does the optical stack itself, where lenses, coatings and films each make a huge difference. The company recently shared more detail on how each of these come together in Metas Infinite Display system for VR optics, the product of years of investment in research and development for VR and AR technologies. That R&D will continue paying off long into the future, and earlier this year the company showcased some of the research prototypes we’ve built to demonstrate these next-generation display technologies.
100 100  
101 -Daily Active Users (DAUs). The company define a daily active user as a registered Facebook user who logged in and visited Facebook through its website or a mobile device, or used its Messenger application (and is also a registered Facebook user), on a given day. The company view DAUs, and DAUs as a percentage of MAUs, as measures of user engagement.
102 102  
103 -[[image:https://www.sec.gov/Archives/edgar/data/1326801/000132680118000009/dauimageq42017.jpg]]
104 104  
105 -Note: For purposes of reporting DAUs, MAUs, and ARPU by geographic region, Europe includes all users in Russia and Turkey and Rest of World includes all users in Africa, Latin America, and the Middle East.
75 +Meta Quest Pro Is Now Available
106 106  
107 -Worldwide DAUs increased 14% to 1.40 billion on average during December 2017 from 1.23 billion during December 2016. Users in India, Indonesia, and Brazil represented key sources of growth in DAUs during December 2017, relative to the same period in 2016.
77 +[[https:~~/~~/about.fb.com/news/2022/10/meta-quest-pro-is-now-available/>>url:https://about.fb.com/news/2022/10/meta-quest-pro-is-now-available/]]
108 108  
109 -Monthly Active Users (MAUs). The company define a monthly active user as a registered Facebook user who logged in and visited Facebook through its website or a mobile device, or used its Messenger application (and is also a registered Facebook user), in the last 30 days as of the date of measurement. MAUs are a measure of the size of its global active user community.
110 110  
111 -[[image:https://www.sec.gov/Archives/edgar/data/1326801/000132680118000009/mauimageq42017a01.jpg]]
80 +October 25, 2022; Meta Platforms announced Meta Quest Pro, the first in its new high-end class of VR headsets. It comes loaded with innovative features like high-resolution sensors that enable full-color mixed reality experiences, next-generation pancake optics, advanced LCD displays that deliver sharp visuals, an all-new, sleek and comfortable design complete with guided Fit Adjustment, and eye tracking and Natural Facial Expressions for enhanced social presence.
112 112  
113 -as of December 31, 2017, the company had 2.13 billion MAUs, an increase of 14% from December 31, 2016. Users in India, Indonesia, and Vietnam represented key sources of growth in 2017, relative to the same period in 2016.
82 +All of this makes Meta Quest Pro the perfect device for collaborating and working much more naturally in VR. And the company plan on working closely with developers over time to build a rich ecosystem of experiences that leverage Meta Quest Pro’s innovative mixed reality and social presence capabilities.
114 114  
115 -**Trends in The company's Monetization by User Geography**
116 116  
117 -The company calculate its revenue by user geography based on its estimate of the geography in which ad impressions are delivered, virtual and digital goods are purchased, or virtual reality platform devices are shipped. The company define ARPU as its total revenue in a given geography during a given quarter, divided by the average of the number of MAUs in the geography at the beginning and end of the quarter. While ARPU includes all sources of revenue, the number of MAUs used in this calculation only includes users of Facebook and Messenger as described in the definition of MAU above. Revenue from users who are not also Facebook or Messenger MAUs was not material. The geography of its users affects its revenue and financial results because the company currently monetize users in different geographies at different average rates. The company's revenue and ARPU in regions such as United States & Canada and Europe are relatively higher primarily due to the size and maturity of those online and mobile advertising markets. For example, ARPU in 2017 in the United States & Canada region was more than nine times higher than in the Asia-Pacific region.
118 118  
119 -[[image:https://www.sec.gov/Archives/edgar/data/1326801/000132680118000009/revenueimageq42017.jpg]]
120 120  
121 -Note: The company's revenue by user geography in the charts above is geographically apportioned based on its estimation of the geographic location of its users when they perform a revenue-generating activity. This allocation differs from its revenue by geography disclosure in its consolidated financial statements where revenue is geographically apportioned based on the location of the marketer or developer.
87 +Financial Highlights
122 122  
123 -For 2017, worldwide ARPU was $20.21, an increase of 26% from 2016. Over this period, ARPU increased by 41% in Europe, 36% in United States & Canada, 33% in Rest of World, and 22% in Asia-Pacific. In addition, user growth was more rapid in geographies with relatively lower ARPU, such as Asia-Pacific and Rest of World. The company expect that user growth in the future will be primarily concentrated in those regions where ARPU is relatively lower, such that worldwide ARPU may continue to increase at a slower rate relative to ARPU in any geographic region, or potentially decrease even if ARPU increases in each geographic region.
124 124  
90 +Meta Reports Third Quarter 2022 Results
91 +
92 +Oct. 26, 2022; Meta Platforms, Inc. reported financial results for the quarter ended September 30, 2022.
93 +
94 +[[https:~~/~~/investor.fb.com/investor-news/press-release-details/2022/Meta-Reports-Third-Quarter-2022-Results/default.aspx>>url:https://investor.fb.com/investor-news/press-release-details/2022/Meta-Reports-Third-Quarter-2022-Results/default.aspx]]
95 +
96 +Revenue – Revenue was $27.71 billion, a decrease of 4% year-over-year, and an increase of 2% year-over-year on a constant currency basis. Had foreign exchange rates remained constant with the third quarter of 2021, revenue would have been $1.79 billion higher.
97 +
98 +Costs and expenses – Total costs and expenses were $22.05 billion, an increase of 19% year-over-year. This includes an impairment loss of $413 million for certain operating leases as part of its ongoing work to align its office facilities footprint with its anticipated operating needs.
99 +
100 +Capital expenditures – Capital expenditures, including principal payments on finance leases, were $9.52 billion for the third quarter of 2022.
101 +
102 +Share repurchases – The company repurchased $6.55 billion of its Class A common stock in the third quarter of 2022. As of September 30, 2022, the company had $17.78 billion available and authorized for repurchases.
103 +
104 +Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $41.78 billion as of September 30, 2022.
105 +
106 +Long-term debt – Long-term debt was $9.92 billion as of September 30, 2022.
107 +
108 +Headcount – Headcount was 87,314 as of September 30, 2022, an increase of 28% year-over-year.
109 +
110 +Family daily active people (DAP) – DAP was 2.93 billion on average for September 2022, an increase of 4% year-over-year.
111 +
112 +Family monthly active people (MAP) – MAP was 3.71 billion as of September 30, 2022, an increase of 4% year-over-year.
113 +
114 +Facebook daily active users (DAUs) – DAUs were 1.98 billion on average for September 2022, an increase of 3% year-over-year.
115 +
116 +Facebook monthly active users (MAUs) – MAUs were 2.96 billion as of September 30, 2022, an increase of 2% year-over-year.
117 +
118 +Ad impressions and price per ad – In the third quarter of 2022, ad impressions delivered across its Family of Apps increased by 17% year-over-year and the average price per ad decreased by 18% year-over-year.
119 +
120 +
121 +Outlook
122 +
123 +The company expect fourth quarter 2022 total revenue to be in the range of $30-32.5 billion. The company's guidance assumes foreign currency will be an approximately 7% headwind to year-over-year total revenue growth in the fourth quarter, based on current exchange rates.
124 +
125 +To provide some context on the approach Meta Platforms is taking towards setting its 2023 budget, Meta Platforms is making significant changes across the board to operate more efficiently. Meta Platforms is holding some teams flat in terms of headcount, shrinking others and investing headcount growth only in its highest priorities. As a result, the company expect headcount at the end of 2023 will be approximately in-line with third quarter 2022 levels.
126 +
127 +Meta Platforms has increased scrutiny on all areas of operating expenses. However, these moves follow a substantial investment cycle so they will take time to play out in terms of its overall expense trajectory. Some steps, like the ongoing rationalization of its office footprint, will lead to incremental costs in the near term. This should set it up well for future years, when the company expect to return to higher rates of revenue growth.
128 +
129 +The company expect 2022 total expenses to be in the range of $85-87 billion, updated from its prior outlook of $85-88 billion. This includes an estimated $900 million in additional charges related to consolidating its office facilities footprint that the company expect to record in the fourth quarter of 2022. The company anticipate its full-year 2023 total expenses will be in the range of $96-101 billion. This includes an estimated $2 billion in charges related to consolidating its office facilities footprint.
130 +
131 +The company expect the slight majority of its 2023 expense dollar growth to be driven by operating expenses, with the remaining growth coming from cost of revenue. The company expect the percentage growth rate of 2023 operating expenses to decelerate meaningfully as the company curtail non-headcount related expense growth and keep 2023 headcount roughly flat with current levels. Conversely, its growth in cost of revenue is expected to accelerate, driven by infrastructure-related expenses and, to a lesser extent, Reality Labs hardware costs driven by the launch of its next generation of its consumer Quest headset later next year.
132 +
133 +Reality Labs expenses are included in its total expense guidance. The company do anticipate that Reality Labs operating losses in 2023 will grow significantly year-over-year. Beyond 2023, the company expect to pace Reality Labs investments such that the company can achieve its goal of growing overall company operating income in the long run.
134 +
135 +The company expect 2022 capital expenditures, including principal payments on finance leases, to be in the range of $32-33 billion, updated from its prior range of $30-34 billion. For 2023, the company expect capital expenditures to be in the range of $34-39 billion, driven by its investments in data centers, servers, and network infrastructure. An increase in AI capacity is driving substantially all of its capital expenditure growth in 2023.
136 +
137 +Absent any changes to U.S. tax law, the company expect its fourth quarter 2022 and its full-year 2023 tax rate to be similar to the third quarter 2022 rate.
138 +
139 +
140 +
141 +Product and Technologies
142 +
143 +Meta Platforms is building new ways to help people explore interests and connect with the people.
144 +
145 +[[https:~~/~~/about.meta.com/technologies/>>url:https://about.meta.com/technologies/]]
146 +
147 +
148 +<app talbe>
149 +
150 +
151 +Company History
152 +
153 +Meta Platforms was founded by Mark Elliot Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004.
154 +
155 +<history table>?
156 +
125 125  = References =
126 126  
127 127  {{putFootnotes/}}
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