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Meta Platforms:Quarterly Results/2023 Q1: Difference between revisions
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''Return to: [[Earnings Season:2023 Q1]] | [[Meta Platforms]] | [[Meta Platforms:Quarterly Results]]'' | ''Return to: [[Earnings Season:2023 Q1]] | [[Meta Platforms]] | [[Meta Platforms:Quarterly Results]]'' | ||
== Results == | |||
Meta Platforms topped analysts estimate in almost all areas. Here are the results<ref>https://s21.q4cdn.com/399680738/files/doc_news/Meta-Reports-First-Quarter-2023-Results-2023.pdf</ref>. | |||
* Revenue was $28.65 billion(+3% y/y), slightly above analyst estimate of $27.61 billion(-1.1% y/y). | |||
* EPS was $2.2 versus $2.03 analyst estimate-a 10% beat. | |||
* Excluding restructuring charges Meta's EPS would be $2.64. | |||
* Average Revenue per User (ARPU) was $9.62 versus $9.30 expected. | |||
* Facebook Daily active users(DAUs) came in 2.04 billion(+4% y/y) versus 2.01 billion(+2.6% y/y) estimate. | |||
* Facebook Monthly active users was 2.99 billion(+2% y/y) as expected. | |||
* Family of Apps revenue was $28.31 billion(+4% y/y) versus $26.88 billion(-1.2% y/y) estimate. | |||
* Family of Apps daily active people standing at 3.02billion (+5% y/y). | |||
* Family of Apps monthly active people at 3.81billion (+5%y/y). | |||
* Reality Labs revenue was 339 million(-51%), below $660 million(-5% y/y) estimate. | |||
* Reality Labs losses was $3.992 billion(+35% y/y) in-line with $3.95 billion(+33% y/y) estimate. | |||
* Family of Apps ad impressions " increased by 26% year-over-year and the average price per ad decreased by 17% year-over-year." | |||
* Meta gave Q2 Revenue outlook of $29.5-$32 billion(2.3%-11% y/y) versus $29.48 billion(2.21% y/y) estimate. | |||
* It also lowered FY 2023 total expenses to the range of $86-90 billion(+0.38% y/y at the mid-point) from $89-$95 billion(+4.9% y/y at the mid-point) given in March. | |||
* FY 2023 capital expenditure outlook remains unchanged at $30-33 billion to reflect its "ongoing build out of AI capacity to support ads, Feed and Reels, along with an increased investment in capacity for our generative AI initiatives." | |||
* Meta said it expects Reality Labs losses to increase y/y in 2023. | |||
== Guidance and Earnings Expectations == | == Guidance and Earnings Expectations == | ||