Facebook NZ grows profit, pays $149m to Irish associate

Irish eyes are smiling when it comes to Meta's global structure. (Image: Deposit Photos)

Mon, 22 May 2023

Facebook New Zealand reported an improved profit for 2022, paying nearly $150 million offshore to the Irish subsidiary of parent company Meta.The NZ business, which sells advertising for social media platforms Facebook, Instagram, Whatsapp and Messenger, posted a $2.2m post-tax profit on $8.7m in revenue from customer contracts in the year to Dec 31, according to newly filed accounts.Facebook’s NZ division reported a post-tax profit of $1.7m on $6.5m in revenue from customer contracts in 2021.The NZ business enjoyed a bumper 2022, accordi...

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