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> 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% ye

> 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 ago
Are 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 ago
  Most of that API access is for advertising. Probably all falls under ads.
- wintogreen74 3y ago
  How 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 ago
Advertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.
- gsatic 3y ago
  Some 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 ago
  Philosophically, 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.

pyrophane 3y ago

Are 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 ago
Most of that API access is for advertising. Probably all falls under ads.
wintogreen74 3y ago
How 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 ago

Advertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.

gsatic 3y ago
Some 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 ago
Philosophically, 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.