Profits at the Irish arm of social media giant, Meta, jumped by 57 per cent to €2.9 billion last year. “Substantially all revenue is generated from advertising, which has continued to grow during the year,” the directors of the Irish business said. During the year, the company paid a dividend of €1.5 billion to parent company, Facebook International Operations Ltd. Meta Ireland slashed one in five jobs during the year, having cut headcount by 18 per cent the previous year. The dividend payout, offset by the post-tax profits, saw accumulated profits rise to €2.59 billion from €891 million.
