Mark Zuckerberg’s social media company, Meta, has revealed that Facebook’s daily average users (DAUs) increased by five per cent year on year to 2.06 billion in June, 2023.
With the increase in users, Meta posted a $32 billion revenue for 2nd quarter, representing an 11 per cent increase year on year.
In its earnings report for Q2 2023, Meta revealed that, all the family of apps owned by the company, which include WhatsApp, Instagram, Messenger, and most recently, Threads, had total daily average users of 3.07 billion as of June, which was a seven per cent growth year on year.
This shows that Facebook is the most used of the Meta apps family. With 2.06 billion DAUs, Facebook alone accounted for 67 per cent of daily users across all Meta platforms.
The report revealed that Meta recorded a significant increase in ad impressions across its family of apps in the quarter under review. “In the second quarter of 2023, ad impressions delivered across our Family of Apps increased by 34 per cent year-over-year and the average price per ad decreased by 16 per cent year-over-year,” Meta stated.
Meta’s CFO, Susan Li, said the company expects Q3 2023 total revenue to be in the range of $32-34.5 billion, adding that, “Our guidance assumes a foreign currency tailwind of approximately three per cent to year-over-year total revenue growth in the third quarter, based on current exchange rates. We anticipate our full-year 2023 total expenses will be in the range of $88-91 billion, increased from our prior range of $86-90 billion due to legal-related expenses recorded in the second quarter of 2023.
“This outlook includes approximately $4 billion of restructuring costs related to facilities consolidation charges and severance and other personnel costs.
“We expect Reality Labs operating losses to increase year-over-year in 2023. While we are not providing a quantitative outlook beyond 2023 at this point, we expect a few factors to be drivers of total expense growth in 2024 as we continue to invest in our most compelling opportunities, including artificial intelligence (AI) and the metaverse,” Susan Li.
Meta said, it also expects its full-year 2023 capital expenditures to be in the range of $27-30 billion, lowered from its prior estimate of $30-33 billion. “The company said the reduced forecast was due to both cost savings, particularly on non-AI servers, as well as shifts in capital expenditures into 2024 from delays in projects and equipment deliveries rather than a reduction in overall investment plans,” Meta averred.
