Despite the fact that Facebook would lose popularity in the minds, the Meta platform now has more than 2 million daily (!) users.
CEO Mark Zuckerberg and co announced the latest quarterly figures on Thursday. Compared to the last three months of 2021, the number of daily users increased 4 percent year-over-year to 2 billion. Facebook isn’t even Meta’s most popular platform, as Instagram and WhatsApp do even better, both with 3 million active users per day.
Facebook made more money with ads
In particular, the increased advertising revenues lead to better-than-expected results, according to Meta. In the first three quarters of 2022, economic uncertainty (due to, among other things, the war in Ukraine) still played tricks on the social media giant. But in the last quarter that didn’t bother them.
As far as Facebook is concerned, the turnover in the final quarter of 2022 was 32.2 billion dollars (29.3 billion euros). That is a slight decrease compared to the same period in 2021, but the decrease is therefore less strong than expected. In total, Meta had an annual turnover of USD 116.6 billion in 2022, barely one percent less than in 2021. The slight decrease is mainly due to increased costs. As a result, profit, $ 23.2 billion, was 41 percent lower than a year ago.
Savings and restructuring
In November, parent company Meta already indicated that substantial savings would be made. For example, it puts its Metaverse, where there was so much going on at first, in the fridge for a while. The social media company wants to cut 11,000 jobs to cut costs. In addition, Meta also says it will invest in targeted ways, with a budget of 89 to 95 billion dollars. That’s about $5 billion more than originally planned.
