Meta Platforms Inc.'s Fourth Quarter 2021 Earnings Disappoint, Stock Plunges 23%

Meta Platforms Inc (FB) reported a net profit of US$10.29 billion (Rp 147 trillion at an exchange rate of Rp 14,300 per US$) in Q4 2021. This represents an 8.33% decrease compared to the same quarter in 2020, which amounted to US$11.21 billion.

This disappointing financial performance caused the stock price of the technology company founded by Mark Zuckerberg to plummet 23.39% to US$237.76 in trading on Thursday, February 3, 2022, compared to the previous day's closing price. FB shares even hit their lowest point since July 31, 2020, as shown in the graph.

Compared to its position on December 31, 2021, Meta's stock price (formerly known as Facebook) has fallen 29.31% (year-to-date/YTD). Meta's stock has also fallen more than 37% from its highest level of US$382.18, reached on September 7, 2021.

However, Meta's financial performance throughout 2021 showed growth. Meta managed to record a 37.18% increase in revenue to US$117.93 billion compared to the previous year.

Meta's net profit also grew by 35.08% to US$39.37 billion in 2021, compared to US$29.15 billion the previous year. Similarly, its diluted earnings per share increased by 36.48% to US$13.77 last year, compared to US$10.09 the previous year.