Facebook shrugged off a slow advertising market in Australia as revenues rose to $1.46 billion, the vast majority of which was funnelled out of the country as service fees paid to other parts of Meta’s global empire.

While Meta, the parent company of the social media giant and other platforms including Instagram and messaging service WhatsApp does not lodge accounts in Australia, its Facebook subsidiary does. Financial information lodged at the weekend shows revenues rose $110 million in the 12 months to December 31, up from $1.34 billion in the previous year.