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Facebook Spain goes into the red and reduces its profit after losing 5 million

Date: July 24, 2024 Time: 06:40:53

Facebook Spain falls in its latest results. The company with which the American technology giant Meta operates in the country, lost five million euros in 2022, compared to the profit it obtained in 2021 of 2.72 million. This has been explained by the company in its accounts deposited in the Mercantile Registry to which EFE accessed.

On the other hand, the Spanish subsidiary had a turnover of 65.6 million in 2022, double that of the previous year, as a result of the sale of engineering, marketing and R&D services contracted by the Meta group and the resale of advertising for clients Spanish people. The company paid 3.7 million for corporation tax in Spain, 36% more than during the previous year.

In addition, it registered a negative operating result of 1.5 million, compared to the positive 4.9 million in 2021, and made provisions in 2022 for debit trade balances of 878,702 euros, while in the previous year it had allocated 163,121 to endowments. euro.

Facebook Spain has leased offices in Madrid from Pontegadea, Amancio Ortega’s investment vehicle, for which it paid a rent of 2.12 million euros in 2022, compared to 1.62 million the previous year.

Meta employees in the country tripled compared to 2021 to 286 workers, which increased its personnel spending by 160% to 57.3 million, of which 54 million corresponded to wages, salaries and similar and 3.2 million. to social charges.

In this item, Meta includes a compensation of 2.5 million from its parent company to compensate employees affected by the plan to reduce the workforce by approximately 11,000 workers worldwide that the technology company announced in November 2022.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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