San Francisco High costs for severance payments and the restructuring of the group brought Meta a surprisingly sharp drop in profits. However, the parent company of the online network Facebook signaled a recovery in advertising revenue, which had been weak for a long time. The stock rose 18 percent in after-hours trading.
For the current quarter, the US group expects sales of 26 to 28.5 billion dollars. Analysts had previously forecast an average of $27.14 billion. In the last quarter of 2022, however, profit collapsed by 55 percent to $ 4.65 billion, more than expected. Meta announced the first wave of layoffs in the company’s history in November. 11,000 jobs are to be cut. This was preceded by a decline in profits.
Meanwhile, the number of users continues to grow. Facebook now has two billion daily active users – an increase of 16 million within three months. At least one Meta app was last used by 2.96 billion users per day, up from 2.93 billion three months earlier.