Home Meta Meta posts strong earnings, forecasts even better performance in the next quarter

Meta posts strong earnings, forecasts even better performance in the next quarter

Facebook founder Mark Zuckerberg speaks at Georgetown University in a 'Conversation on Free Expression" in Washington, DC on October 17, 2019. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)

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Yesterday, Meta reported financial results for the quarter ended June 30, 2023. Revenue was $32.0 billion, an increase of 11% year-over-year. Net income was $7.7 billion, an increase of 16% YoY. Meta also provided the following numbers regarding its services.

  • Family daily active people (DAP) – DAP was 3.07 billion on average for June 2023, an increase of 7% year-over-year.
  • Family monthly active people (MAP) – MAP was 3.88 billion as of June 30, 2023, an increase of 6% year-over-year.
  • Facebook daily active users (DAUs) – DAUs were 2.06 billion on average for June 2023, an increase of 5% year-over-year.
  • Facebook monthly active users (MAUs) – MAUs were 3.03 billion as of June 30, 2023, an increase of 3% year-over-year.
  • Ad impressions and price per ad – In the second quarter of 2023, ad impressions delivered across our Family of Apps increased by 34% year-over-year and the average price per ad decreased by 16% year-over-year.

Meta also expects the upcoming third quarter 2023 total revenue to be in the range of $32-34.5 billion.

Meta also announced that it expects Reality Labs operating losses to increase year-over-year in 2023 due to its ongoing product development efforts in augmented reality/virtual reality and investments to further scale its ecosystem.

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