[deleted]
Meta Q2 2023 revenue is up 11% YOY
11–20 of 21 posts
Re: Meta Q2 2023 revenue is up 11% YOY
#12Glad they laid off all those employees to get ready for the lean economic times.
I don’t get this line of thought. These employees were well paid, and earned good money for many years. They’ve had their fill, it’s time to move on to some new job. A company should be praised for trimming the fat and reducing headcount: Making leaner more efficient operations. People complain why it takes thousands of engineers to run an app, but then they still complain when you try to reduce amount.
[deleted]
Re: Meta Q2 2023 revenue is up 11% YOY
#13Glad they laid off all those employees to get ready for the lean economic times.
I don’t get this line of thought. These employees were well paid, and earned good money for many years. They’ve had their fill, it’s time to move on to some new job. A company should be praised for trimming the fat and reducing headcount: Making leaner more efficient operations. People complain why it takes thousands of engineers to run an app, but then they still complain when you try to reduce amount.
Any serious thinking person understands it's healthy. You just can't win with keyboard warriors who have no perspective and complain about everything.
Re: Meta Q2 2023 revenue is up 11% YOY
#14> 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-quarte... > Earnings: $2.98 per share vs. $2.91 expected by Refinitiv. > Revenue:…
Advertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.
Re: Meta Q2 2023 revenue is up 11% YOY
#15Earlier quoted context omitted.
Looking at it from the other direction, these numbers make it seem that they were in fact overstaffed.
I think it is kind of silly to try to evaulate the business impact of layoffs by looking at revenue for the quarter immediately after.
Indeed. Revenue should be flat or go down after layoffs, not up.
Re: Meta Q2 2023 revenue is up 11% YOY
#16> 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-quarte... > Earnings: $2.98 per share vs. $2.91 expected by Refinitiv. > Revenue:…
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.
Most of that API access is for advertising. Probably all falls under ads.
Re: Meta Q2 2023 revenue is up 11% YOY
#17> 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-quarte... > Earnings: $2.98 per share vs. $2.91 expected by Refinitiv. > Revenue:…
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.
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.
Re: Meta Q2 2023 revenue is up 11% YOY
#18> 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-quarte... > Earnings: $2.98 per share vs. $2.91 expected by Refinitiv. > Revenue:…
Advertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.
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.
Re: Meta Q2 2023 revenue is up 11% YOY
#19Earlier quoted context omitted.
I don’t get this line of thought. These employees were well paid, and earned good money for many years. They’ve had their fill, it’s time to move on to some new job. A company should be praised for trimming the fat and reducing headcount: Making leaner more efficient operations. People complain why it takes thousands of engineers to run an app, but then they still complain when you try to reduce amount.
Companies like Boeing, General Motors, Starbucks, Home Depot, and Nordstrom would be glad to hire those laid off software engineers.
How are those companies insulated from the same economic pressures that caused the big tech layoffs?
Maybe rising borrowing costs will be slower to affect consumer discretionary companies, but they will, arguably more than monopolistic big tech. Boeing is an exception because of government contracts.
Re: Meta Q2 2023 revenue is up 11% YOY
#20> 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-quarte... > Earnings: $2.98 per share vs. $2.91 expected by Refinitiv. > Revenue:…
Advertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.
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.