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Facebook : latest UK tax bill was £2.6m as revenues quadrupled

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10/05/2017 | 07:11am CEST

FACEBOOK paid tax in the UK of £2.6m after agreeing to report the revenue it brings in from advertising in the UK instead of Ireland.

Revenues were £842m in 2016, the latest figures available, four times larger than the previous year after it made the changes according to the freshly filed accounts.

And pre-tax profits were £55.8m compared to a £41.2m loss in 2015.

Facebook's tax bill for the year was £5.2m, but it paid just £2.6m - due to deductions related to some expenses.

The year prior its bill came in at £4.2m, but that was offset by a tax credit of £11m and in 2014 it paid just £4,327, sparking outrage and scrutiny from MPs, leading to the eventual deal to pay more in the UK.

"Last April, we actively chose to reorganise our company structure to record revenues from our large UK sales customers in the UK. We believed this would provide greater transparency on our operations in London and be easier for people to understand," said a Facebook spokesperson.

"We continue to invest and expand in the UK, employing 1,500 people in our new offices by the end of this year".

(c) 2017 City A.M., source Newspaper

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Financials ($)
Sales 2017 39 215 M
EBIT 2017 18 165 M
Net income 2017 16 040 M
Finance 2017 33 505 M
Yield 2017 -
P/E ratio 2017 32,68
P/E ratio 2018 26,73
EV / Sales 2017 12,1x
EV / Sales 2018 8,98x
Capitalization 507 B
Duration : Period :
Facebook Technical Analysis Chart | FB | US30303M1027 | 4-Traders
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 195 $
Spread / Average Target 12%
EPS Revisions
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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