Meta has reported its Q3 2022 results and its revenue was down 4% YoY to $27.7B, with net income down 52% YoY to $4.4B.
It says family daily active people was up 4% YoY to 2.93 billion, and daily active users were 1.98 billion on average for September 2022, an increase of 3% year-over-year.
It talks about ads: "In the third quarter of 2022, ad impressions delivered across our Family of Apps increased by 17% year-over-year and the average price per ad decreased by 18% year-over-year."
Our community continues to grow and I'm pleased with the strong engagement we're seeing driven by progress on our discovery engine and products like Reels," said Mark Zuckerberg, Meta founder and CEO. "While we face near-term challenges on revenue, the fundamentals are there for a return to stronger revenue growth. We're approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company."
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Meta Reports Q2 2022 Results [webmasterworld.com]
