Meta reported $117.9 billion in revenue for fiscal year 2021, up 37% from the $86 billion they reported in 2020. After paying $71.2 billion in expenses and provisioning $7.9 billion for income taxes, Meta’s net income for 2021 came out to $39.4 billion.
Nearly all of that money came from advertising: in total, advertising comprised $114.9 billion, or 97%, of Facebook’s $117.9 billion total revenue. Facebook does not break down its revenue in greater detail than that, so it’s hard to say for sure how much money came from Facebook and how much came from other sources, such as Instagram and WhatsApp.
2021 was a great year for Meta financially. But even as they reported a record year, Meta warned about slow growth in 2022. They identified several factors dampening growth, including Apple’s new privacy options on iOS, which makes it easier for users to opt out of the tracking-based advertising that drives Meta’s business.
In late 2021, the company formerly known as Facebook rebranded itself as Meta, as part of its shift to virtual reality and augmented reality. Those sectors remain an investment for the company: in 2021, Reality Labs reported a net loss of $10.2 billion for its parent company.
You can read more in Facebook’s full earnings report for Q4 2020.