Meta's revenue dips 4% YoY to $32.17 billion in Q4 FY22

Meta has reported a revenue of $32.17 billion in Q4 of FY22, which is 4% down from the corresponding quarter of the previous fiscal year - wherein it stood at $33.67 billion.

On a full-year basis, the tech giant’s revenue also decreased by 1% and stood at $116.61 billion, juxtaposed to $117.93 billion it had clocked in during FY21.

“Had foreign exchange rates remained constant with the same periods of 2021, revenue would have been $2.01 billion and $5.96 billion higher, an increase of 2% and 4% on a constant currency basis for the fourth quarter and full year 2022, respectively,” the company said.

However, in the fourth quarter ended December 31, the tech giant has seen an increase of 23% in its ad impressions across its ‘Family of Apps’ on a YoY basis as the average price per ad took a dip of 22% during the same time period.

Additionally, for the full-year ended December 31, Meta’s ad impressions increased by 18% and the average price per ad decreased by 16% on a YoY basis.

As per the results posted by the parent company of Facebook and Instagram, the Family Daily Active People and Monthly Active People saw an increase of 5% and 4% respectively, on a YoY basis. The tech giant’s DAP stood at 2.96 billion and MAP at 3.74 billion.

Similarly, Facebook’s Daily Active Users also increased by 4% YoY as it stood at 2 billion in December 2022 and Monthly Active Users went up by 2% as of December 2022 and stood at 2.96 billion.

It is also to be noted that Meta’s total expenditure, including all costs and expenses, was $25.77 billion and $87.66 billion, an increase of 22% and 23% YoY, for the fourth quarter and full year 2022, respectively.

“This includes charges related to our restructuring efforts of $4.20 billion and $4.61 billion in the fourth quarter and full year 2022, respectively,” Meta stated.

Mark Zuckerberg, Founder and CEO, Meta, said, “Our community continues to grow and I'm pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives.”

He also added that the progress that Meta has been making on its AI discovery engine and Reels are major drivers of this development.

“Beyond this, our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organisation,” he stated.

Info@BestMediaInfo.com