Meta reports ad revenue of $27 billion in Q1 FY22

Meta has reported $ 27 billion in ad revenue as opposed to the expected $ 27.48 billion dollars, as per the Quarter 1 results of 2022 announced by the company.

Facebook’s parent company Meta announced the results for the quarter ended March 31, 2022. As per the it, there has been a 4% increase in the daily active users, making it 1.96 billion currently.

According to it, although the ad impressions delivered across Meta apps increased by 15%, the price per ad has decreased by 8% year-over-year.

The total revenue, including Advertising, Other Revenue, and Reality Labs, stands at $ 27.9 billion dollars, versus the expected 28.24 billion dollars. This is, however, more than the $26.1 billion total revenue it got in the corresponding quarter of the last fiscal year.

The company further expects the second-quarter 2022 total revenue to be in the range of $28-30 billion. The total expenses will be in the range of $87-92 billion, which has been lowered from their prior outlook of $90-95 billion said the company. 

"We made progress this quarter across a number of key company priorities and we remain confident in the long-term opportunities and growth that our product roadmap will unlock. More people use our services today than ever before, and I'm proud of how our products are serving people around the world,” said Mark Zuckerberg, Meta Founder and CEO. 

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