the social network exceeds 2 billion active users per day
Mark Zuckerberg’s Meta, parent company of Facebook and Instagram, reported upbeat financial results today, to Wall Street’s surprise and relief, beating revenue and daily active user targets.
Meta released its fourth quarter 2022 earnings report, which included the latest Facebook user numbers. The company announces that Facebook’s daily active user count was 2 billion as of December 31, 2022. That’s up slightly from last quarter’s 1.98 billion users and a 4% year-over-year increase. ” Our community continues to grow and I’m pleased with the strong engagement across all of our apps. Facebook has just passed the milestone of 2 billion daily assets said Mark Zuckerberg, CEO and co-founder of Meta, announcing the results.
Monthly active users number 2.96 billion, which according to Meta, represents a 2% year-on-year increase. This figure is nevertheless stable compared to what was reported in the third quarter of 2022. As a reminder, it was in 2017 that Facebook exceeded 2 billion monthly active users for the first time.
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Meta exceeds analysts’ expectations
2022 will have been a real black year for the parent company of Facebook and Instagram, which had never been so financially low since 2016. The firm had plummeted on the stock market, and had seen its profits plummet.
Meta effectively posted a decline in revenue for the third straight quarter as it faces falling ad spend and increased competition from companies like TikTok. However, investors rallied to the stock, which soared 20% thanks to better-than-expected fourth quarter results and the company’s relatively optimistic outlook for the first quarter.
Fourth-quarter sales of $32.2 billion were down 4% from a year earlier but beat expectations. Profits fell from $10.2 billion to $4.6 billion. While Meta exceeded revenue expectations, the Reality Labs division of the company lost a whopping $13.7 billion in 2022.
