/biz/ - Business & Finance

META

As revenue was growing 23.2%, costs and expenses decreased 7.5% to $20.398B. This put operating income at $13.748B, which was good for growth of 142.7% as operating margin popped from 20.4% for the year ago comp to an impressive 40.3%. After interest and taxes, net income printed at $11.583B, which was up 168%.

Remember, this is CEO Mark Zuckerberg's "Year of Efficiency" and it sure looks like it as profitability has been prioritized and expenses minimized.