Facebook quadruples UK revenue in 2016

Facebook UK’s year-on-year revenue quadrupled in 2016 to £842.4 million – up from £210.8 million in 2015 – according to the latest financial results filed with Companies House.

Profit after tax also increased from a £41.2 million loss in 2015 to a £55.8 million profit in 2016.

However, despite the impressive results, the social media giant still only paid £2.6 million in tax for the year.

In a statement, Facebook said: “Last April, we actively chose to reorganise our company structure to record revenues from our large UK sales customers in the UK. These accounts reflect that change.”

“We continue to invest and expand in the UK, employing 1,500 people in our new offices by the end of this year, which is also home to our largest engineering base outside the US.”