Meta Q3 Sales Drop 4% but Facebook Now Has 2 Billion Daily Users

Meta has just announced its third quarterly report. According to the report, Meta Q3 sales declined 4% year over year to hit $27.7 billion. Meanwhile, net income was just $4.395 billion, down from $9.194 billion year over year.

This decline in income is mostly due to Meta’s huge investment in the metaverse. Reality Labs, Meta’s virtual reality division, lost $3.672 billion this quarter. The same thing happened in Q1 when CEO Mark Zuckerberg justified a $3 billion loss by saying that the 2030s will be “exciting.”

Meta Q3 Sales Drop 4% but Facebook Now Has 2 Billion Daily Users

Meta further revealed that Facebook now has around 2 billion active users which is a 3% year-over-year increase. Mark Zuckerberg shared some updated figures as well. He revealed that there are now more than 140 billion Reels plays across Facebook and Instagram, which is a 50% increase from six months ago. Across all platforms, Reels has a $3 billion annual revenue run rate.

The main highlights of the report are;

• Family daily active people (DAP) – DAP was 2.93 billion on average for September 2022, an increase of 4% year-over-year.
• Family monthly active people (MAP) – MAP was 3.71 billion as of September 30, 2022, an increase of 4% year-over-year.
• Facebook daily active users (DAUs) – DAUs were 1.98 billion on average for September 2022, an increase of 3% year-over-year.
• Facebook monthly active users (MAUs) – MAUs were 2.96 billion as of September 30, 2022, an increase of 2% year-over-year.
• Ad impressions and price per ad – In the third quarter of 2022, ad impressions delivered across Meta’s family of apps increased by 17% year-over-year and the average price per ad decreased by 18% year-over-year.
• Revenue – Revenue was $27.71 billion, a decrease of 4% year-over-year, and an increase of 2% year-over-year on a constant currency basis.
• Headcount – The headcount was 87,314 as of September 30, 2022, an increase of 28% year-over-year.

Meta also revealed that it will launch its next consumer-grade Quest headset next year. Meta just shipped its first high-grade Quest Pro headsets this week.

See Also: Loreal, Meta & HEC Paris Join Forces To Launch Metaverse Startup Accelerator