April 27, 2023 the full financial report for Meta (formerly known as Facebook)
According to Meta’s financial report for the full year 2022, which was released earlier this year, the company had revenues of $124.7 billion, an increase of 36% compared to the previous year. Net income for the year was $33.1 billion, up 53% from the previous year.
Comparing these figures with the most recent earnings report for the first quarter of 2023, which showed revenues of $38 billion, an increase of 27% year-over-year, we can see that the company’s revenue growth has slowed somewhat compared to the previous year. However, it is worth noting that the first quarter of the year is typically a slower period for advertising revenue, which is a key source of revenue for Meta.
In terms of user growth, Meta reported 3.09 billion monthly active users across its platforms in the first quarter of 2023, an increase of 12% year-over-year. This compares to 2.85 billion monthly active users reported in the company’s full-year 2022 financial report, an increase of 14% compared to the previous year.
- Revenue: Meta reported revenue of $38 billion for the first quarter of 2023, representing a 27% increase compared to the same period in the previous year. This growth was primarily driven by an increase in advertising revenue, which was up 28% year-over-year.
- Net Income: Meta’s net income for the first quarter of 2023 was $9.5 billion, an increase of 15% compared to the same period in the previous year.
- Daily Active Users: Meta reported that it had 3.09 billion daily active users across its family of apps (including Facebook, Instagram, WhatsApp, and Messenger) as of March 31, 2023, an increase of 12% year-over-year.
- Monthly Active Users: Meta reported 4.07 billion monthly active users across its family of apps as of March 31, 2023, an increase of 11% year-over-year.
- Expenses: The company’s total expenses for the first quarter of 2023 were $24.2 billion, an increase of 35% compared to the same period in the previous year. This was driven by investments in new products and technologies, as well as increased regulatory and legal costs.
- Cash and Cash Equivalents: Meta reported cash and cash equivalents of $67.5 billion as of March 31, 2023.
Overall, while the available information is limited, it appears that Meta’s revenue growth has slowed somewhat compared to the previous year, but the company is still reporting strong user growth and profitability. Once the full financial report for this year is released, we will have a more comprehensive view of the company’s performance and how it compares to previous years.