"New accounts filed with Companies House also show that while Facebook's UK headcount declined in the year, its employee costs actually rose from £2.2bn to £2.3bn. This was driven by an increase in social welfare costs from £268.1m to £358.4m and share-based payments rising from £853.3m to £973.9m. The amount Facebook UK paid in wages and salaries in 2024 fell from £1bn to £923.8m."
"For its latest financial year, Facebook UK's revenue increased from £2.8bn to £3.1bn while its pre-tax profit also rose from £355.4m to £362.4m. The highest turnover the UK arm of Facebook has ever reported was the £3.3bn it achieved in 2022. In September, parent company Meta revealed it was preparing to roll out a new subscription service in the UK that will allow users to pay to remove ads from Facebook and Instagram."
"For 2024, Snap Group has reported a pre-tax loss of $757.7m (£565.8m), accounts filed with Companies House show. The latest total is down from the pre-tax loss of $1bn (£746.9m) it posted for 2023. However over the same period, Snapchat's revenue surged from $1.6bn to $2.1bn. At the time, Snapchat said the main reason for the increase in its revenue was a combination of growth in advertisers and auction-based advertising demand and "optimisation efficiencies"."
Facebook UK's headcount fell from 6,338 to 5,679 during the latest financial year, down from 7,053 at the end of 2022. Employee costs rose from £2.2bn to £2.3bn, driven by social welfare costs increasing from £268.1m to £358.4m and share-based payments rising from £853.3m to £973.9m. Wages and salaries fell from £1bn to £923.8m. Revenue increased from £2.8bn to £3.1bn and pre-tax profit rose from £355.4m to £362.4m, versus a peak turnover of £3.3bn in 2022. Meta plans a UK subscription to remove ads on Facebook and Instagram. Snap Group reported a 2024 pre-tax loss of $757.7m with revenue up to $2.1bn.
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