Facebook NZ's Revenue Down 16% in 2023, Pays $831k in Tax Amid $159m Transfer to Ireland

Facebook NZ's profit and revenue declined last year compared to 2022, with a revenue of $7.59m, down from $9.13m. However, the company paid related party Meta Platforms Ireland $159.4m for advertising, up from $157.4m in 2022. Facebook NZ paid $831,000 in tax.

Facebook New Zealand (Facebook NZ) has released its financial results for the year ending December 31, 2024, revealing a decline in both profit and revenue compared to the previous year. The company reported a revenue of $7.59 million, down from $9.13 million in 2023. Despite this, Facebook NZ paid $159.4 million to its related party, Meta Platforms Ireland, for advertising services, an increase from $157.4 million in 2022. The company also paid $831,000 in tax [1].

The decline in revenue can be attributed to a variety of factors, including increased competition in the social media landscape and regulatory pressures. Facebook NZ primarily provides sales support and marketing services to the broader Meta social media and technology group. The company's revenue was down by approximately 17% compared to the previous year.

The payment to Meta Platforms Ireland for advertising services highlights the significant financial transactions between related entities within the Meta ecosystem. This transfer underscores the complex financial relationships and the potential impact on overall profitability and tax liabilities.

The financial performance of Facebook NZ is closely tied to the broader regulatory environment surrounding Meta Platforms. The company is currently facing an antitrust trial in the United States, which could have significant implications for its future operations and market position. The trial, which concluded in May 2025, is set to determine if Meta's acquisitions of Instagram and WhatsApp constituted illegal monopolization, potentially leading to their divestiture [2].

The outcome of the antitrust trial could have broader implications for the tech industry, potentially impacting how companies approach mergers and acquisitions in the future. The trial also highlights the ongoing debate around the definition of relevant markets in antitrust law, with the Federal Trade Commission (FTC) advocating for a narrow definition and Meta arguing for a broader interpretation [2].

In conclusion, Facebook NZ's financial results for 2024 reflect a challenging year marked by declining revenue and increased payments to related entities. The company's performance is closely linked to the broader regulatory environment and the ongoing antitrust trial against Meta Platforms. Investors and financial professionals should closely monitor the developments in this case, as it could have significant implications for the future of the social media giant.

References:
[1] https://www.nzherald.co.nz/technology/facebook-nz-says-profit-and-revenue-down-as-it-sends-159-million-to-ireland-pays-831k-in-tax/HEYQQFDWRRBRTHRJOXEXJWH2HY/
[2] https://winbuzzer.com/2025/05/27/metas-future-hinges-on-judges-antitrust-ruling-post-trial-instagram-whatsapp-divestiture-looms-xcxwbn/