When Meta reports their quarterly results, they don't break down their revenues by platform. In other words, we can't see how much money Instagram, Facebook or WhatsApp makes by themselves.
According to Bloomberg, a recent court filing revealed some of these closely guarded secrets. Instagram brought in 30% of Meta's revenues in the first half of 2022.
The court documents showed that Instagram made $22 billion in 2020 and $32.4 billion in 2021, a huge jump. The $1 billion they paid for the app in 2012 was certainly money well spent.