9 ms·
Meta Q2 2023 revenue is up 11% YOY
- newfonewhodis 3y ago> Revenue was $31.999 billion, up 11% year-over-year. Excluding foreign exchange impact, revenue grew 12%. > Advertising revenue was $31.498 billion, up 12% year-over-year. Excluding foreign exchange impact, advertising revenue grew 13%. 98.4% of their revenue is ads! Full earnings: https://www.cnbc.com/2023/07/26/meta-to-report-second-quarter-earnings-after-the-bell.html https://www.cnbc.com/2023/07/26/meta-to-report-second-quarte... > Earnings: $2.98 per share vs. $2.91 expected by Refinitiv. > Revenue: $32 billion vs. $31.12 billion expected by Refinitiv. > Daily Active Users (DAUs): 2.06 billion vs 2.04 billion expected, according to StreetAccount. > Monthly Active Users (MAUs): 3.03 billion vs 3 billion expected, according to StreetAccount. > Average Revenue per User (ARPU): $10.63 vs $10.22 expected, according to StreetAccount.
- pyrophane 3y agoAre you saying everything else that they do that generates revenue fits into just 1.6% of total revenue? That's wild given that they also have a somewhat successful VR headset product and I assume that they also charge money for a bunch of other stuff like API access, etc.
- jedberg 3y agoMost of that API access is for advertising. Probably all falls under ads.
- wintogreen74 3y agoHow many headsets do you have to sell to make an impression against 32B though? Even the most optimistic sales guesses put total sales at < 5B over their entire lifetime. That's probably only a few hundred million this year, if that.
- cwkoss 3y agoAdvertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.
- gsatic 3y agoSome strange things are happening to it though. As info explodes ( only .5% of content created is consumed as per UN Economist Network) how does cost of Advertising/return on advertising grow? The advertisors and marketing theorists have no great answer to that other than to pay fuckerberg more.
- missedthecue 3y agoPhilosophically, it's easy and even attractive to sympathize with this view, but speaking practically here, if there were a superior method to raise awareness of the existence of my small and insignificant business, I would love to do it. Until then, Facebook ads work better than anything I have tried.
- mduggles 3y agoGlad they laid off all those employees to get ready for the lean economic times.
- missedthecue 3y agoLooking at it from the other direction, these numbers make it seem that they were in fact overstaffed.
- pyrophane 3y agoI think it is kind of silly to try to evaulate the business impact of layoffs by looking at revenue for the quarter immediately after.
- wintogreen74 3y agoIndeed. Revenue should be flat or go down after layoffs, not up.
- xwdv 3y agoI don’t get this line of thought. These employees were well paid, and earned good money for many years. They’ve had their fill, it’s time to move on to some new job. A company should be praised for trimming the fat and reducing headcount: Making leaner more efficient operations. People complain why it takes thousands of engineers to run an app, but then they still complain when you try to reduce amount.
- peanuty1 3y agoCompanies like Boeing, General Motors, Starbucks, Home Depot, and Nordstrom would be glad to hire those laid off software engineers.
- htss2013 3y agoHow are those companies insulated from the same economic pressures that caused the big tech layoffs? Maybe rising borrowing costs will be slower to affect consumer discretionary companies, but they will, arguably more than monopolistic big tech. Boeing is an exception because of government contracts.
- deleted 3y ago[deleted]
- ChrisArchitect 3y ago[dupe] More discussion and report over here: https://news.ycombinator.com/item?id=36884230 https://news.ycombinator.com/item?id=36884230
- deleted 3y ago[deleted]
- akmarinov 3y agoTime to hire people to better position for this future growth!