Meta Q2 2023 revenue is up 11% YOY

#1

Post by vthallam » Wed, Jul 26, 2023, 8:21 PM UTC

Meta Q2 2023 revenue is up 11% YOY
twitter.com

Re: Meta Q2 2023 revenue is up 11% YOY

#2

Post by newfonewhodis » Wed, Jul 26, 2023, 9:17 PM UTC

> 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: $32 billion vs. $31.12 billion expected by Refinitiv.

> Daily Active Users (DAUs): 2.06 billion vs 2.04 billion expected, according to StreetAccount.

> Monthly Active Users (MAUs): 3.03 billion vs 3 billion expected, according to StreetAccount.

> Average Revenue per User (ARPU): $10.63 vs $10.22 expected, according to StreetAccount.

Re: Meta Q2 2023 revenue is up 11% YOY

#3

Post by mduggles » Wed, Jul 26, 2023, 9:20 PM UTC

Glad they laid off all those employees to get ready for the lean economic times.

Re: Meta Q2 2023 revenue is up 11% YOY

#4

Post by missedthecue » Wed, Jul 26, 2023, 9:21 PM UTC

mduggles wrote: post #3

Glad they laid off all those employees to get ready for the lean economic times.

Looking at it from the other direction, these numbers make it seem that they were in fact overstaffed.

Re: Meta Q2 2023 revenue is up 11% YOY

#5

Post by pyrophane » Wed, Jul 26, 2023, 9:27 PM UTC

missedthecue wrote: post #4

mduggles wrote: post #3

Glad they laid off all those employees to get ready for the lean economic times.

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.

Re: Meta Q2 2023 revenue is up 11% YOY

#6

Post by xwdv » Wed, Jul 26, 2023, 9:28 PM UTC

mduggles wrote: post #3

Glad 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.

Re: Meta Q2 2023 revenue is up 11% YOY

#7

Post by peanuty1 » Wed, Jul 26, 2023, 9:30 PM UTC

xwdv wrote: post #6

mduggles wrote: post #3

Glad 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.

Companies like Boeing, General Motors, Starbucks, Home Depot, and Nordstrom would be glad to hire those laid off software engineers.

Re: Meta Q2 2023 revenue is up 11% YOY

#8

Post by pyrophane » Wed, Jul 26, 2023, 9:31 PM UTC

newfonewhodis wrote: post #2

> 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.