Meta Platforms (META, Buy, raising target to $790 from $685) New 10K disclosures imply average employee comp ~$585K in 2024
META has adopted ASU 2023-07 retrospectively and now breaks out employee compensation versus other expenses, implying that average comp per employee was -$585K in 2024.We have updated estimates for headcount by expense type, and walk through new estimates for average comp per employee type (i.e., data center, R&D, S&M, G&A, etc.). We also update estimates for all major components for cost of revenue, R&D, S&M and G&A.
Facebook is building and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices. The company's products include: Facebook, which enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, which is a place where people can express themselves through photos, videos, and private messaging, and explore their interests in businesses, creators and communities; Messenger and WhatsApp, which are messaging applications; and Oculus, which connects people through its Oculus virtual reality products.
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