Samreen Ahmad · · 1 min readFB reaches 2 billion daily users amid Meta’s revenue decline
Photo credit: rokastenys / 123RF
Facebook has reached 2 billion daily users in the last quarter of 2022 even as Meta posts another revenue decline.
“The progress we’re making on our AI discovery engine and Reels are major drivers of this,” said Meta founder and CEO Mark Zuckerberg, echoing the tech industry’s growing obsession with AI.
In terms of revenue, Meta reported US$32.2 billion for Q4 2022 and US$116.6 billion for the full year. These represented a decrease of 4% and 1% year over year, respectively.
Sharing a revenue guidance of US$26 billion to US$28.5 billion for Q1 2023, Meta termed 2023 as the “Year of Efficiency” as it focuses on “becoming a stronger and more nimble organization.”
Besides laying off approximately 11,000 employees in November 2022, the company said it also canceled multiple data center projects and abandoned several official buildings to “pursue greater efficiency.”
Meta’s shares jumped nearly 20% after these results were released.
See also: Can Carousell crack Google-Facebook duopoly with big ad bet?
Editing by Thu Huong Le and Lorenzo Kyle Subido
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