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by newfonewhodis 1062 days ago
> Revenue was $31.999 billion, up 11% year-over-year. Excluding foreign exchange impact, revenue grew 12%.

> Advertising revenue was $31.498 billion, up 12% year-over-year. Excluding foreign exchange impact, advertising revenue grew 13%.

98.4% of their revenue is ads!

Full earnings: https://www.cnbc.com/2023/07/26/meta-to-report-second-quarte...

> Earnings: $2.98 per share vs. $2.91 expected by Refinitiv.

> Revenue: $32 billion vs. $31.12 billion expected by Refinitiv.

> Daily Active Users (DAUs): 2.06 billion vs 2.04 billion expected, according to StreetAccount.

> Monthly Active Users (MAUs): 3.03 billion vs 3 billion expected, according to StreetAccount.

> Average Revenue per User (ARPU): $10.63 vs $10.22 expected, according to StreetAccount.
2 comments
cwkoss 1062 days ago
Advertising is a cancer on our culture, and it makes me sad that so much of our economy is shackled to it.
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gsatic 1062 days ago
Some strange things are happening to it though.

As info explodes ( only .5% of content created is consumed as per UN Economist Network) how does cost of Advertising/return on advertising grow?

The advertisors and marketing theorists have no great answer to that other than to pay fuckerberg more.

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missedthecue 1062 days ago
Philosophically, it's easy and even attractive to sympathize with this view, but speaking practically here, if there were a superior method to raise awareness of the existence of my small and insignificant business, I would love to do it.

Until then, Facebook ads work better than anything I have tried.

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pyrophane 1062 days ago
Are you saying everything else that they do that generates revenue fits into just 1.6% of total revenue?

That's wild given that they also have a somewhat successful VR headset product and I assume that they also charge money for a bunch of other stuff like API access, etc.

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wintogreen74 1062 days ago
How many headsets do you have to sell to make an impression against 32B though? Even the most optimistic sales guesses put total sales at < 5B over their entire lifetime. That's probably only a few hundred million this year, if that.
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jedberg 1062 days ago
Most of that API access is for advertising. Probably all falls under ads.
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