The Dublin-based international headquarters for the owner of Facebook and Instagram generated €9.7 million in revenue per hour during 2024, according to newly published figures.
New filings with the Companies Office show that Meta Platforms Ireland Ltd increased its revenues by 22 per cent, or €15.54 billion, reaching €85.29 billion in what was a record year for the company, reports Breaking News.
On the back of weekly average revenues of €1.64 billion in 2024, pre-tax profits at Meta Platforms Ireland Ltd rose by 57 per cent, climbing from €1.85 billion to €2.9 billion.
The revenue produced by the Dublin-based operation represents 60 per cent of Meta’s global revenues of $164.5 billion (€142 billion) for 2024, reports Breaking News.
The directors of the Irish subsidiary state that “substantially all revenue is generated from advertising, which has continued to grow during the year”, reports Breaking News.
They say the rise in revenue “was attributable to growth in advertising revenue from third-party customers generated by displaying ad products on Facebook, Instagram, Messenger, and third-party mobile applications”, reports Breaking News.
The company posted a post-tax profit of €2.54 billion for 2024 after recording a corporation tax bill of €366.8 million.
The accounts show the firm paid a €1.5 billion dividend to its parent company, Facebook International Operations Ltd, during the year, reports Breaking News.
The directors also disclosed that in 2025, the board approved a further €1.9 billion dividend payment to the parent firm.
They add that headcount fell by 20 per cent last year, following an 18 per cent reduction in 2023, reports Breaking News.
Last year, staff numbers declined by 433, dropping from 2,171 to 1,738.
Total staff costs amounted to €453.9 million, including €116.5 million in share-based compensation, reports Breaking News.
The accounts show that €257.15 million was spent on salaries alone, which translates to an average salary of €147,959 before including €116.5 million in share-based payments and €40.35 million in other benefits.
A breakdown indicates that 570 employees worked in operations, 499 in administration, 369 in sales and marketing, and 300 in engineering, reports Breaking News.
Director compensation fell by €400,000 to €2.3 million, along with €9.6 million provided under long-term incentive schemes.
At the beginning of 2024, the firm had earmarked €4.15 billion for potential regulatory fines, and €1 billion of that was released during the year to cover financial penalties, reports Breaking News.
The company’s Research and Development (R&D) spending rose from €155.43 million to €186.3 million. Profit also reflects non-cash depreciation costs of €66.92 million and a foreign exchange loss of €181.5 million.
Operating profits increased by 51 per cent last year, rising from €1.88 billion to €2.86 billion, after accounting for administrative expenses of €79.32 billion and cost of sales of €3.1 billion, reports Breaking News.
Net interest income of €43.25 million lifted pre-tax profits to €2.9 billion.
The dividend payout, balanced against post-tax profit, resulted in accumulated profits rising from €891 million to €2.59 billion, reports Breaking News.
Shareholder funds amounted to €2.7 billion, while cash reserves fell from €5.89 billion to €5.14 billion.
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