In the first quarter of 2020, Facebook's net income amounted to over 4.9 billion U.S. dollars. This represents a return to form from the first two quarters of 2019, where the company's net income was less than 3 billion U.S. dollars respectively. This is largely related to legal expenses regarding a FTC matter and settlements in the United States. Facebook’s most recent annual net income amounted to 18.49 billion U.S. dollars.
In the fourth quarter of 2016, Facebook elected to early adopt ASU 2016-09. As such, 2016 quarterly GAAP net income includes the impact of the ASU 2016-09 adoption. Q1 2019 includes a 3 billion U.S. dollar legal expense accrued in Q1 2019 related to the ongoing FTC matter as discussed in Q1 2019 press release. Q2 2019 includes an additional $2.0 billion legal expense accrued in the second quarter of 2019 related to the FTC settlement and $1.1 billion in income taxes due to the developments in AlteraCorp. v. Commissioner as discussed in Q2 2019 Press Release.
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Facebook. (April 29, 2020). Facebook's net income from 1st quarter 2010 to 1st quarter 2020 (in million U.S. dollars) [Graph]. In Statista. Retrieved July 03, 2020, from https://www.statista.com/statistics/223289/facebooks-quarterly-net-income/
Facebook. "Facebook's net income from 1st quarter 2010 to 1st quarter 2020 (in million U.S. dollars)." Chart. April 29, 2020. Statista. Accessed July 03, 2020. https://www.statista.com/statistics/223289/facebooks-quarterly-net-income/
Facebook. (2020). Facebook's net income from 1st quarter 2010 to 1st quarter 2020 (in million U.S. dollars). Statista. Statista Inc.. Accessed: July 03, 2020. https://www.statista.com/statistics/223289/facebooks-quarterly-net-income/
Facebook. "Facebook's Net Income from 1st Quarter 2010 to 1st Quarter 2020 (in Million U.S. Dollars)." Statista, Statista Inc., 29 Apr 2020, https://www.statista.com/statistics/223289/facebooks-quarterly-net-income/
Facebook, Facebook's net income from 1st quarter 2010 to 1st quarter 2020 (in million U.S. dollars) Statista, https://www.statista.com/statistics/223289/facebooks-quarterly-net-income/ (last visited July 03, 2020)