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4% decline in Meta Q3 sales but 2 billion daily users

The third quarterly report from Meta has just been released. As per this report, Meta generated $27.7 billion in sales in Q3 compared to $28.4 billion last year. Since last year, net income has dropped from $9.194 billion to just $4.395 billion.

Meta’s huge investment in the metaverse is the primary cause of this decline in income. During the third quarter of 2017, Reality Labs, Meta’s virtual reality division, lost $3.672 billion. In the first quarter, Mark Zuckerberg justified a $3 billion loss by saying that the 2030s are going to be “exciting.”

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Additionally, Meta reported that Facebook has approximately 2 billion active users, a 3% increase year-over-year. As well as some updated figures, Mark Zuckerberg provided some details. The number of Reel plays on Facebook and Instagram has increased by 50% from six months ago to over 140 billion. The revenue run rate of Reels is $3 billion across all platforms.

There are a number of highlights in the report, including;

  • In September 2022, there was 2.93 billion family daily active people (DAP), an increase of 4% over September 2021.
  • In September 30, 2022, there were 3.71 billion family monthly active people (MAP), up 4% from September 30, 2021.
  • As of September 2022, Facebook had 1.98 billion daily active users (DAUs), an increase of 3% from September 2021.
  • The number of monthly active users (MAUs) on Facebook reached 2.96 billion as of September 30, 2022, a 2% increase year over year.
  • Across Meta’s family of apps, ad impressions increased by 17% year-over-year in the third quarter of 2022, while the average price per ad decreased by 18%.
  • During the quarter, revenue amounted to $27.71 billion, a decrease of 4% from last year and an increase of 2% from last year in constant currency.
  • A headcount of 87,314 was reported on September 30, 2022, a 28% increase.

Next year, Meta will launch its next consumer-grade Quest headset. A high-grade Quest Pro headset was

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