We have reduced our hiring and overall expense growth plans this year to account for the more challenging operating environment while continuing to direct resources toward our company priorities,” Wehner added in a statement. “We expect 2022 total expenses to be in the range of $85-88 billion, lowered from our prior outlook of $87-92 billion. Our guidance assumes foreign currency will be an approximately 6% headwind to year-over-year total revenue growth in the third quarter, based on current exchange rates. "We also anticipate third quarter Reality Labs revenue to be lower than second-quarter revenue. "We're putting increased energy and focus around our key company priorities that unlock both near and long-term opportunities for Meta and the people and businesses that use our services." Third quarter looking gloomyįor the third quarter 2022, the parent company of Facebook, Instagram and WhatsApp is forecasting total revenues to be between $26 to $28.5 billion, falling short of expectations.ĭave Wehner, chief financial officer of Meta said that this “reflects a continuation of the weak advertising demand environment we experienced throughout the second quarter, which we believe is being driven by broader macroeconomic uncertainty". "It was good to see positive trajectory on our engagement trends this quarter coming from products like Reels and our investments in AI," said Mark Zuckerberg, Meta founder and CEO in a statement. Meta noted that daily active users of Facebook were 1.97 billion on average for June 2022, an increase of 3% year-over-year, while monthly active users were 2.93 billion as of June 30, 2022, an increase of 1% year-over-year. READ: Meta Platforms investors badly in need of reassurance Total revenue hit US$28.822 billion, 1% less than last year’s 2Q levels of $29.077 billion, and less than Wall Street’s expectations of $30.32 billion, and the first time year-over-year revenue has declined. The firm's profits fell during the second quarter as the social media giant faced a drop in advertising revenue thanks to rising inflation and a loss in digital ad revenue,with earnings per share (EPS) of US$2.46 versus consensus estimates of $2.54. Meta Platforms Inc (NASDAQ:FB) shares took a dive on Thursday following its disappointing 2Q results that saw the company post its first-ever revenue decline. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Proactive will on occasion use automation and software tools, including generative AI. The team also has access to and use technologies to assist and enhance workflows. Our human content creators are equipped with many decades of valuable expertise and experience. Proactive has always been a forward looking and enthusiastic technology adopter. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. This is content that excites and engages motivated private investors. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. Her most recent position was with and 's North America news bureau as senior copy editor with management responsibilities. She has worked at the Winnipeg Free Press in Manitoba, for WAVE: Winnipeg's Health and Wellness magazine with the Winnipeg Regional Health Authority, and at CBC Radio. Susie has held numerous journalistic roles over the years, from reporter through to editor, with side journeys into radio and videography, plus a decade in corporate communications.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |