Meta reports 12% YoY rise in ad revenue in Q2 of FY23

Meta’s ad revenue grew by 12% (YoY) in Q2 of 2023, surpassing expectations. Its ad revenue was $31.5 billion in Q2 versus $28.2 billion in the same period in 2022.

Meta reported that ​​in the second quarter of 2023, ad impressions delivered across its family of apps increased by 34% YoY and the average price per ad decreased by 16% YoY.

Meta earned $7.8 billion profit on $32 billion in revenue during the recently ended quarter. The number of people using Facebook monthly also rose to 3.03 billion.

"We had a good quarter. We continue to see strong engagement across our apps and we have the most exciting roadmap I've seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall," said Mark Zuckerberg, Meta founder and CEO.

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