Facebook NZ grows profit, pays $196 million to Irish associate of Meta parent

AUCKLAND, Today: Facebook New Zealand reported an improved profit for 2022, paying nearly $ 200 million offshore to the Irish subsidiary of parent company Meta, according to a report in today’s NZ Herald.

“The NZ business enjoyed a bumper 2022, as cash receipts jumped to $ 162 million from $ 86.6 million in 2021”

“The NZ business, which sells advertising for social media platforms Facebook, Instagram and Messenger, posted a $ 2.2m post-tax profit on $ 8.7m in revenue from customer contracts in the year to December 31, according to newly filed accounts,” says the NZH report (scroll down for a link to the full story).

“Facebook’s NZ division reported a post-tax profit of $ 1.7m on $ 6.5m in revenue from customer contracts in 2021.

“The NZ business enjoyed a bumper 2022, according to the accounts, as cash receipts from customers jumped to $ 162 million from $ 86.6 million in 2021.”

• Read the full NZ story here