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

Facebook NZ grows profit, pays $149m to Irish associate
Irish eyes are smiling when it comes to Meta's global structure. (Image: Deposit Photos)
Daniel Dunkley
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...

More Technology

NZ leaving billions on the table with lack of tech adoption
Technology

NZ leaving billions on the table with lack of tech adoption

 A new report highlights how this country can catch up, increasing GDP by 2.08% a year.

Ben Moore 23 Feb 2024
Business of Tech podcast: Tech might save us, but the billionaires won't
Technology Free

Business of Tech podcast: Tech might save us, but the billionaires won't

Canadian journalist Paris Marx on keeping climate tech focused in the right direction.

Parochialism stifling health IT innovation, official says
Infrastructure

Parochialism stifling health IT innovation, official says

NZ tech solutions 'won't scale and add cost and complexity'.

Cécile Meier 22 Feb 2024