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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 2018 56 812 M
EBIT 2018 25 935 M
Net income 2018 22 592 M
Finance 2018 47 967 M
Yield 2018 -
P/E ratio 2018 27,37
P/E ratio 2019 22,84
EV / Sales 2018 9,85x
EV / Sales 2019 7,46x
Capitalization 608 B
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | FB | US30303M1027 | 4-Traders
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 45
Average target price 229 $
Spread / Average Target 9,3%
EPS Revisions
Managers
NameTitle
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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