> 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.
