Meta posts first-ever revenue drop as inflation throttles ad sales
2 years, 4 months ago

Meta posts first-ever revenue drop as inflation throttles ad sales

The Hindu  

Meta Platforms Inc issued a gloomy forecast after recording its first-ever quarterly drop in revenue on Wednesday, with a global recession looming and competitive pressures weighing on its digital ads sales. Total revenue, which consists almost entirely of ad sales, fell 1% to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. Still, the Meta results come as fortunes in online ads sales appear to be diverging between search and social media players, with the latter impacted more severely as ad buyers reeling in spending. The results also shed light on the unique strain Meta's core social media business is experiencing, as it competes for users' time with short video app TikTok and adjusts its ads business to privacy controls rolled out by Apple Inc last year.

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History of this topic

Meta Reports Strong Q3 Results with Record Revenue and Net Income
1 month, 3 weeks ago

Meta Reports Strong Q3 Results with Record Revenue and Net Income

China Daily  

Meta Platforms reports strong financial results for the third quarter, with revenue and net income increasing year-on-year. The company's family daily active people (DAP) also increased, indicating strong user growth. Meta expects fourth quarter 2024 revenue to be in the range of $45 billion to $48 billion, with full-year 2024 expenses in the range of $96 billion to $98 billion. …

Meta’s third-quarter profit surges 35%, reflecting strong ad revenue and its AI push
1 month, 3 weeks ago

Meta’s third-quarter profit surges 35%, reflecting strong ad revenue and its AI push

LA Times  

Mark Zuckerberg wears a pair of Orion AR glasses during the Meta Connect conference on Sept. 25, 2024, in Menlo Park, Calif. Meta Platforms Inc. posted stronger-than-expected third-quarter results on Wednesday, fueled by its advertising revenue growth and its push to incorporate artificial intelligence. Meta said it’s “family daily active people” — the number of users who signed into at …

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter
4 months, 3 weeks ago

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter

The Hindu  

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signalling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments. "Any apprehensions investors may have had about Meta's spending on AI and the metaverse are likely to be allayed by this quarter's …

Meta Q2 ad sales expected to rise; focus on AI roadmap, costs
4 months, 3 weeks ago

Meta Q2 ad sales expected to rise; focus on AI roadmap, costs

The Hindu  

Meta Platforms is expected to report a 20% rise in quarterly revenue, helped by strong ad sales driven by the Olympics and elections in several countries, but investors will want to see if its spending on AI is starting to yield returns. The company released its mostly free Llama 3.1 artificial intelligence model last week, and said developers can use …

Meta’s advertising business keeps rolling as AI aspirations rise
7 months, 4 weeks ago

Meta’s advertising business keeps rolling as AI aspirations rise

Live Mint  

Meta Platforms on Wednesday reported record first-quarter sales as the company continued to build on AI-powered momentum in its advertising business. Those advancements in AI have helped Meta overcome challenges posed by privacy changes implemented by Apple that erased $10 billion of revenue for the social media company in 2022. In April, Meta released its latest large language model, Llama …

Meta reports revenue jump as Zuckerberg sees stock volatility over AI plans
7 months, 4 weeks ago

Meta reports revenue jump as Zuckerberg sees stock volatility over AI plans

The Hindu  

Meta on Wednesday reported quarterly revenue of $36.46 billion, up by 27%, when compared to last year, as CEO Mark Zuckerberg hailed the company’s AI product releases and stressed on his aim to share them with more customers and begin monetising the offerings. Zuckerberg pointed out that the new Meta AI chatbot, powered by the company’s open source and most …

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day
7 months, 4 weeks ago

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day

Daily Mail  

Meta shares crashed in after-hours trading Wednesday after the company warned profits will slip over the summer. Meta says it will see second quarter revenue between $36.5 and $39 billion. Shares were also hit after Meta said it expects overall expenses this year to be higher than it previously forecast - as the Facebook parent spends heavily to roll out …

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours
7 months, 4 weeks ago

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours

Associated Press  

Facebook and Instagram parent company Meta said Wednesday its first-quarter profit more than doubled, boosted by higher advertising revenue and a 6% increase on the average price of ads on its platforms. The company has been investing heavily in AI and earlier this month unveiled a new set of artificial intelligence systems that are powering what CEO Mark Zuckerberg calls …

Meta adds $196 billion to stock market value as shares see biggest one-day high
10 months, 3 weeks ago

Meta adds $196 billion to stock market value as shares see biggest one-day high

Hindustan Times  

Meta Platforms added $196 billion in stock market value on Friday, marking the biggest one-day gain by any company in Wall Street history after the Facebook parent declared its first dividend and posted robust results. Meta shares see their biggest single-day high Meta's stock surged 20.3% for the session, also recording its biggest one-day percentage increase in a year and …

Amazon and Meta—Nothing Artificial About These Results
10 months, 3 weeks ago

Amazon and Meta—Nothing Artificial About These Results

Live Mint  

The e-commerce titan and social networking giant both posted strong fourth-quarter results late Thursday. The two beat Wall Street’s consensus targets for both revenue and operating income by wider margins than Microsoft and Google-parent Alphabet did with their respective December quarter reports earlier in the week. The company did manage to beat Wall Street’s projections for its all-important iPhone revenue, …

Facebook parent Meta declares first dividend, shares jump 12%
10 months, 3 weeks ago

Facebook parent Meta declares first dividend, shares jump 12%

Hindustan Times  

Meta Platforms issued its first ever dividend days ahead of flagship social network Facebook's 20th anniversary, while reporting revenue that beat expectations as a result of robust ad and device sales in the holiday shopping period. Meta forecast first quarter revenue of $34.5 billion to $37 billion, above Wall Street expectations of $33.8 billion. Improvements to the social media business …

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound
10 months, 3 weeks ago

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound

Associated Press  

Meta Platforms Inc. tripled its profit and posted sharply higher revenue in the final quarter of 2023, boosted by a rebound in digital advertising as well cost cutting and layoffs in what CEO Mark Zuckerberg called the “year of efficiency.” “The company can talk all it wants to about AI and the metaverse, but it’s still a social media company …

Meta reports “good” quarter after revenue growth, launch of Threads and AI products
1 year, 1 month ago

Meta reports “good” quarter after revenue growth, launch of Threads and AI products

The Hindu  

Meta CEO Mark Zuckerberg noted a “good quarter” for the company’s community and business as the social media giant reported revenue growth of 23% year-over-year to reach $34.15 billion. Zuckerberg earlier announced that 2023 would be Meta’s year of “efficiency” and the company proceeded to lay off hundreds of workers across its tech and business divisions. “I’m proud of the …

Meta Q3 Results: Facebook parent beats revenue, profit estimates
1 year, 1 month ago

Meta Q3 Results: Facebook parent beats revenue, profit estimates

Live Mint  

Meta Platforms, the owner of social media platforms Facebook and Instagram, beat expectations for third-quarter profit and revenue on Wednesday led by a recovery in digital advertising spending. Meta, which also owns WhatsApp, reported a 23% rise in revenue to $34.15 billion for the quarter ended September, growing at the quickest pace in two years. The company forecast 2024 spending …

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue
1 year, 1 month ago

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue

Associated Press  

Facebook parent Meta on Wednesday posted sharply higher earnings for the third quarter, boosted by an increase in advertising revenue and lower expenses after it laid off thousands of workers. “With its sustained upward trajectory, robust user engagement, and strategic cost optimizations, Meta is not only navigating choppy waters but also setting the course for uncharted territories of growth.” Meta, …

Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Meta posts higher profit, revenue for Q2 as advertising rebounds

The Hindu  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds

Associated Press  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Meta plans fresh layoffs, delays setting team budgets: Report
1 year, 10 months ago

Meta plans fresh layoffs, delays setting team budgets: Report

Hindustan Times  

Facebook parent Meta Platforms Inc has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported on Saturday. Earlier this month, Meta announced that it expects its 2023 expenses at between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a "Year of Efficiency." In recent weeks …

Big Tech earnings show digital ads market is still shaky
1 year, 10 months ago

Big Tech earnings show digital ads market is still shaky

The Hindu  

After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet, Meta Platforms and Snap showed they were not yet in the clear. Google-owner Alphabet Inc. on Thursday reported a slight fall in quarterly ad revenue, missing Wall Street expectations and surprising investors as the world's largest digital ad platform …

Meta posts upbeat outlook, plans $40 billion buyback
1 year, 10 months ago

Meta posts upbeat outlook, plans $40 billion buyback

Live Mint  

BY SALVADOR RODRIGUEZ | UPDATED 2月 01, 2023 06:12 晚上 EST Social-media giant plans to buy back additional $40 billion in shares, says its costs are set to decline and its global users increased Facebook parent Meta Platforms Inc. reported improving conditions in its underlying business and said it would buy back an added $40 billion in shares, a turnabout …

Meta posts lower Q4 profit, announces huge stock buyback
1 year, 10 months ago

Meta posts lower Q4 profit, announces huge stock buyback

Associated Press  

SAN FRANCISCO — Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. But the company’s stock soared in extended trading, as its revenue beat Wall Street’s muted expectations and the Menlo Park, California-based company announced a $40 billion stock buyback. Meta’s …

After Meta Layoffs, Its Shares See Nearly 21% Jump; Average Ticket Size Increases 35%
2 years, 1 month ago

After Meta Layoffs, Its Shares See Nearly 21% Jump; Average Ticket Size Increases 35%

News 18  

Meta Shares Recover 21% After Layoffs: As the macroeconomic downturn, increased competition and ads signal loss have hit Meta’s revenue, its shares remained under pressure since the start of this year and have witnessed a continuous fall. However, after the reports of Meta layoffs start doing the round, the company’s shares begin recovering and the average ticket size that investors …

Meta cuts more than 11,000 jobs; biggest cull in its history
2 years, 1 month ago

Meta cuts more than 11,000 jobs; biggest cull in its history

Al Jazeera  

Facebook’s parent company, whose shares have lost more than two-thirds of their value, said it also plans to cut discretionary spending and extend its hiring freeze through the first quarter. The broad job cuts, the first in Meta’s 18-year history, follow thousands of layoffs at other leading tech companies including Elon Musk-owned Twitter and Microsoft Corp. “Today I’m sharing some …

Facebook parent Meta’s revenue, profit decline amid ad slump
2 years, 1 month ago

Facebook parent Meta’s revenue, profit decline amid ad slump

Associated Press  

Facebook parent Meta on Wednesday reported that its revenue declined for a second consecutive quarter, hurt by falling advertising sales as it faces competition from TikTok’s wildly popular video app. “We’re approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company.” Meta said it expects staffing levels …

Meta reports another drop in revenue, in a rough week for tech companies
2 years, 1 month ago

Meta reports another drop in revenue, in a rough week for tech companies

NPR  

Meta reports another drop in revenue, in a rough week for tech companies Enlarge this image toggle caption Nic Coury/Bloomberg via Getty Images Nic Coury/Bloomberg via Getty Images It's gotten tougher for Big Tech. Facebook and Instagram's parent company Meta said revenue fell 4% in the three months from July through September compared to a year earlier, from $29 billion …

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings
2 years, 4 months ago

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings

ABP News  

Meta Platforms clocked its first ever quarterly decline in revenue on Wednesday, Reuters reported. Citing Refinitiv, Reuters mentioned total revenue, which consists almost entirely of ad sales, fell 1 per cent to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. Monthly active users on Facebook came in slightly under analyst expectations at 293 crore …

Meta sees first ever quarterly drop, misses estimates
2 years, 4 months ago

Meta sees first ever quarterly drop, misses estimates

Al Jazeera  

Recession fears and competitive pressures are weighing on the digital ads sales of the social media giant. Meta Platforms Inc has issued a gloomy forecast after recording its first-ever quarterly drop in revenue, with recession fears and competitive pressures weighing on its digital Shares of the Menlo Park, California-based company were down about 4.6 percent in extended trading. “The situation …

Facebook parent Meta posts first revenue decline in history
2 years, 4 months ago

Facebook parent Meta posts first revenue decline in history

Associated Press  

Meta, the parent company of Facebook and Instagram, posted its first revenue decline in history Thursday, dragged down by a drop in ad spending as the economy falters — and as competition from rival TikTok intensifies. CEO Mark Zuckerberg said Meta is slowing its pace of investments and plans to “steadily reduce” employee growth after a hiring blitz earlier this …

As Zuckerberg bets on TikTok-style videos, Meta heads for first-ever revenue drop
2 years, 4 months ago

As Zuckerberg bets on TikTok-style videos, Meta heads for first-ever revenue drop

The Hindu  

Meta's future may lie in the metaverse, but when the company reports results on Wednesday, investors will be focused on two more immediate bets: pumping up short-video offering Reels to compete with TikTok and rebuilding its ads system after Apple throttled access to user data. Meta is also investing heavily to rebuild its ads system around its own user data, …

Meta shares surge after Facebook ekes out user growth
2 years, 7 months ago

Meta shares surge after Facebook ekes out user growth

The Hindu  

Meta Platforms Inc surprised Wall Street with a profit beat and Facebook returning to user growth, although Meta forecast a conservative revenue outlook for the current quarter. Meta's profit soundly beat Wall Street targets at $2.72 per share, compared with an analyst consensus of $2.56, according to IBES data from Refinitiv. Facebook daily active users, a key metric for advertisers …

Meta, formerly Facebook, faces historic drop as stock tanks
2 years, 10 months ago

Meta, formerly Facebook, faces historic drop as stock tanks

Hindustan Times  

Shares in Facebook parent company Meta are in the midst of their worst day ever Thursday after the social media giant reported a rare decline in profit due to a sharp increase in expenses as it invests heavily in its transformation into a virtual reality-based company. In addition, recent privacy changes by Apple make it harder for companies like Meta …

Meta shares sink 20% as Facebook loses daily users for the first time
2 years, 10 months ago

Meta shares sink 20% as Facebook loses daily users for the first time

The Hindu  

Facebook owner Meta Platforms Inc's shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple's privacy changes and increased competition for users from rivals like TikTok. The 18-year-old tech giant, which also faces pressure from platforms like TikTok and Google's YouTube, said it expected slowing revenue growth in the coming quarter …

Meta’s market value just dropped by more than most companies are worth
2 years, 10 months ago

Meta’s market value just dropped by more than most companies are worth

CNN  

New York CNN Business — Meta Platforms, the company formerly known as Facebook, just had itsworst trading day in its history as a public company. The company’s shares closed down more than 26% Thursday, shaving off nearly $240 billion from its market value, after a rough earnings report released after trading hours on Wednesday. Meta’s lost market value is more …

Meta shares plummet 20% after posting rare profit decline
2 years, 10 months ago

Meta shares plummet 20% after posting rare profit decline

CNN  

New York CNN Business — Facebook rattled investors on Wednesday by posting a rare profit decline, driven by the company’s heavy spending on its vision for a so-called metaverse while simultaneously confronting advertising challenges on its existing services. CFO Dave Wehner had previously warned that investments in Reality Labs would reduce the company’s overall operating profit in 2021 by about …

Facebook owner Meta to lift veil off its metaverse business
2 years, 10 months ago

Facebook owner Meta to lift veil off its metaverse business

The Hindu  

Since October, Facebook has renamed the company, articulated a vision of the internet where people can digitally connect through virtual-reality avatars or teleport to see places like ancient Rome, and helped trigger the metaverse investment craze. Meta plans to break out the results of its augmented and virtual-reality hardware unit, Reality Labs, for the first time,an investment the company previously …

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