> 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.
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.
Until then, Facebook ads work better than anything I have tried.
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.
More discussion and report over here: https://news.ycombinator.com/item?id=36884230
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.
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.
