In the second quarter of the year, Meta had revenues of 28,822 million dollars. This figure represents just an increase of 1%, in addition to the fact that earnings were located at 2.46 dollars per share, that is, a loss of 32% compared to the same period of the previous year.
Regarding Facebook’s daily active users, the company recorded 1.97 billion on average, an increase of 3% year over year, while monthly active users were 2.93 billion, an increase of 1%.
“It was good to see a positive trajectory in our engagement trends this quarter coming from products like Reels and our investments in AI,” said Mark Zuckerberg, CEO of Meta. “We are putting more energy and focus on our key business priorities that unlock short- and long-term opportunities for Meta and the people and businesses that use our services.”
Throughout the year, the company has faced various financial issues. In February, it reported a 2021 close in which it lost users, and although it recovered in this aspect by the first quarter of 2022, investors remain concerned about the company’s online advertising business.
The relationship with Apple’s new privacy settings in iOS, which prevent user tracking, also affected it in this business vertical, as well as the difficult economic outlook.
On the other hand, Instagram is under pressure from TikTok, as it has become too popular an app among young people and this has caused the Meta to promote too many changes in the social network to the point of turning it into a platform for videos. , something that has not been accepted by users.
For the third quarter of the year, the company expects total revenue to be in the range of $26 billion to $28.5 billion. This outlook reflects a continuation of the weak advertising demand environment we experienced during the second quarter, which we believe is being driven by broader macroeconomic uncertainty.