Meta’s Latest Performance Update Displays Strong Results With Facebook Adding 27 Million New Users

The latest earnings call for Meta is out and the company has recorded a massive win for Facebook with the app’s userbase rising by 27 million in Q2 of 2023.

This means the company’s total figure for monthly active users has struck the 3 billion mark and this is the first time ever that we’re seeing this take place for Meta. Hence if you think the famous Blue app is going anywhere soon, well, think again.

Most of the growth in users was interestingly arising from the Asian region and we’re seeing an immense rise in users in places like India as well as Indonesia. The justification provided by tech experts regarding this finding is how connectivity in these places is definitely increasing as developing markets make the move to bring more users online. Hence, they are more likely to get into an app while growth across the EU and the US is still quite at a standstill, which definitely means the adoption is already quite high in these places.

Figures for usage in Facebook saw a decline in the EU region for the second time, and that’s after seeing a slight rise in Q1 of this year.

We agree that the platform may not be the most trending when you’ve got so many more choices out there but it does make some sense as to why people are taking a step back and demand is waning in markets where it has already established its stronghold.

Yet, we have to give Meta credit because Facebook reaching the 3 billion figure for monthly active users is definitely something worth celebrating. And right now, there is yet to be any other app coming close to that stage.

The figures for revenue turned out to be $32 billion and that’s a massive 11% rise when compared to 2022. See, right now, the challenge is linked to Meta witnessing growth in many developing regions but not getting enough revenue from established regions. And we might be seeing a while before new users get the right kind of profit.

Nevertheless, the $32 billion figure is quite strong and we’re seeing a shift in economic conditions. This would reinforce the firm’s ongoing strength and ensure the newest developments in today’s advertising sector.
Coming down to the firm’s performance with ads, the company claims that its ad impressions saw a rise of 34% when compared to last year during the second quarter. But the price point was not where the firm would want it to be, declining by 16%.

The company is still going to find some more advertising chances and make new placement decisions. Clearly, more ads would affect user’s experiences on the apps but still, the figures for usage are not disturbed, ironically, keeping in mind that rise.

Moreover, let’s not forget how all of this is before we even begin to consider the great potential that ads would have on Meta’s Threads apps. This is not something the firm is planning right now but we might be seeing it arise soon.

Read next: Mark Zuckerberg Is Confident Threads Will Reach 1 Billion Users Soon As Meta’s Q2 Earnings Call Shows Promising Results
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