Meta Q4 revenue falls 4%
As per reports, Meta's annual sales have dropped for the first time since 2012 but beats forecast
Meta has reported a revenue of $32,165 million for the quarter ended December 31, 2022, a fall of 4% from the previous fiscal. The company's net income for the quarter stands at $4,652 million.
As per media reports, Meta's annual sales have dropped for the first time since 2012 but it was not as severe as expected. As per the financial report, the marketing and sales figure stood at $4,574 million for the quarter.
Sharing first-quarter predictions, CEO Mark Zuckerberg said, “We expect first quarter 2023 total revenue to be in the range of $26-28.5 billion.”
"Our community continues to grow and I'm pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives," said Zuckerberg. "The progress we're making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization."
