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Meta Platforms:Quarterly Results/2023 Q2: Difference between revisions
Meta Platforms:Quarterly Results/2023 Q2 (view source)
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* "We are now more confident in META's re-acceleration and raise 2H23 revenue & out-year estimates," they wrote. "'''Our Ad Metrics data suggests pricing is weaker, but spend is holding up'''. Our view: we think META is ramping Reels inventory faster than anticipated." | * "We are now more confident in META's re-acceleration and raise 2H23 revenue & out-year estimates," they wrote. "'''Our Ad Metrics data suggests pricing is weaker, but spend is holding up'''. Our view: we think META is ramping Reels inventory faster than anticipated." | ||
* "META is just now beginning to re-gain market share after ~2 years of declines. We think AI investments, new product growth (Reels), TikTok issues, and ad-tech investments set the stock up well for 2H23 & into '24. We raise 2H23E revenue by ~$480MM and '24E by ~$1.9BN," they added. | * "META is just now beginning to re-gain market share after ~2 years of declines. We think AI investments, new product growth (Reels), TikTok issues, and ad-tech investments set the stock up well for 2H23 & into '24. We raise 2H23E revenue by ~$480MM and '24E by ~$1.9BN," they added. | ||
== Insights == | |||
=== Revealbot CPM insights === | |||
* Facebook average CPM has been declining month over month during the quarter<ref>https://revealbot.com/facebook-advertising-costs</ref>. | |||
* Instagram average CPM has also been declining month over month during the quarter<ref>https://revealbot.com/instagram-advertising-costs</ref>. | |||
{| class="wikitable" | |||
|+ | |||
!Month | |||
! colspan="3" |Facebook | |||
! colspan="3" |Instagram | |||
|- | |||
! | |||
!CPM | |||
!M/M Growth | |||
!Y/Y Growth | |||
!CPM | |||
!M/M Growth | |||
!Y/Y Growth | |||
|- | |||
|April | |||
|$10.35 | |||
| -11% | |||
| -19% | |||
|$9.05 | |||
| -11% | |||
| -15% | |||
|- | |||
|May | |||
|$8.99 | |||
| -15% | |||
| -26% | |||
|$8.52 | |||
| -6% | |||
| -25% | |||
|- | |||
|June | |||
|$8.77 | |||
| -2% | |||
| -31% | |||
|$8.55 | |||
|0% | |||
| -25% | |||
|- | |||
|July | |||
|$8.72 | |||
|0% | |||
| -29% | |||
|$8.17 | |||
| -4% | |||
| -26% | |||
|} | |||
=== TipRanks facebook.com website traffic === | |||
* facebook.com website traffic grew 20% year-over-year to 12.01 million<ref name=":7">https://www.tipranks.com/stocks/meta/website-traffic?utm_source=markets.businessinsider.com&utm_medium=referral</ref>. | |||
* facebook.com website traffic decined 7.67% quarter-over-quarter<ref name=":7" />. | |||
== Competitor Results and Analysts Expectations == | == Competitor Results and Analysts Expectations == | ||
| Line 188: | Line 247: | ||
|9.1% | |9.1% | ||
|} | |} | ||
== References == | == References == | ||
<references /> | <references /> | ||