Tech

WhatsApp Ireland reports large rise in profits

Company also reports lower admin expenses as it reduces the amount set aside for regulatory compliance issues

WhatsApp Ireland reduced the amount of provisions it set aside for regulatory compliance last year by €45 million to €193.4 million

The Irish arm of WhatsApp, the encrypted messaging app owned by Meta, has reported a sharp rise in pre-tax profits as administrative expenses fell sharply.

Newly-filed accounts for WhatsApp Ireland show turnover rose by €15.1 million to €56.1 million in 2022 on the back of an increase in service fees received from another group company.

Pre-tax profits climbed from just €1.3 million to €40.8 million as administrative expenses fell by €23.5 million to €15.8 million.