On the call, Zuckerberg also echoed previous warnings about the challenges of engagement shifting toward features like its short video offering Reels, which generates less revenue than other ad formats. In a conference call with analysts on Wednesday, Chief Financial Officer Dave Wehner cited factors including a slowdown in ecommerce after rapid growth during the COVID-19 pandemic, as well as a loss of revenue in Russia and reduced ad demand amid global economic uncertainty. Total revenue, the bulk of which comes from ad sales, rose 7% to $27.91 billion in the first quarter, but missed analysts' estimates of $28.20 billion, according to IBES data from Refinitiv. A few quarters ago it could count on developing markets to keep the growth engine going but it's likely that even these high-growth opportunities are starting to dry up," she said. "However, growth in monthly active users is slowing quickly. It needed to show some sort of turnaround from last quarter's performance," Insider Intelligence analyst Debra Williamson said. "It's good news that Meta somehow managed to eke out growth in DAU. Meta has lost about half of its value since the start of the year, after a dismal February earnings report when Facebook's daily active users declined for the first time and it forecast a gloomy quarter, blaming ongoing factors including Apple's (AAPL.O) privacy changes and increased competition from platforms like ByteDance's TikTok. Monthly active users came in at 2.94 billion, missing Wall Street estimates by 30 million. Facebook daily active users (DAU), a key metric for advertisers, were 1.96 billion, slightly higher than the estimate of 1.95 billion, according to IBES data from Refinitiv.
0 kommentar(er)
