Meta Q2 2023 revenue is up 11% YOY

[newfonewhodis]

> 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.

[cwkoss]

Advertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.

[pyrophane]

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.

[ChrisArchitect]

[dupe]

More discussion and report over here: https://news.ycombinator.com/item?id=36884230

[mduggles]

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

[missedthecue]

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

[xwdv]

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.

[akmarinov]

Time to hire people to better position for this future growth!