(Tiper Stock Exchange) – Meta Platforms (the company that controls Facebook, Instagram and WhatsApp) has registered revenues down 4% to 32.17 billion euros in fourth quarter of 2022, against analysts’ expectations for 31.53 billion euros (according to Refinitiv data). L’Net income fell to $4.65 billion (-55%), or $1.76 per share, in the quarter ended Dec. 31, compared to $10.29 billion, or $3.67 per share, in the prior year .
The decline was largely due to a charge of $4.2 billion related to cost-cutting measures such as layoffs, office closures and data center strategy overhaul.
“Our community continues to grow and I’m pleased with the strong engagement in our apps. Facebook just hit the 2 billion daily active milestone,” he said. Mark Zuckerberg, founder and CEO of Meta – The progress we are making on our AI discovery engine and Reels are the main drivers of this. Beyond that, our management theme for 2023 is the “Year of efficiency” and we focus on becoming a stronger and more agile organization.”
Daily active users (SAD) amounted to 2 billion, against the 1.99 billion expected by the market, according to StreetAccount. Monthly active users (MAU extension) was 2.96 billion, compared to 2.98 billion expected, and the average revenue per user (ARPU) were equal to 10.86 dollars, against the 10.63 expected by the market.
Meta Platforms stated to to expect enter the first quarter between $26 billion and $28.5 billion, while analysts were expecting guidance for revenue of $27.1 billion, according to Refinitv. The company expects its total expenses in 2023 will be between $89 billion and $95 billion, which is lower than its previous forecast of $94-100 billion for the year.
(Photo: Photo by Mariia Shalabaieva on Unsplash)