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Meta Platforms:Quarterly Results/2023 Q2: Difference between revisions
Meta Platforms:Quarterly Results/2023 Q2 (view source)
Revision as of 15:13, 10 August 2023
, 10 August 2023→Earnings Call Summary
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* They will continue hiring in key areas though budgetted headcount growth is low(MR). | * They will continue hiring in key areas though budgetted headcount growth is low(MR). | ||
* Many teams laid off people in order to hire new skills and that will spill over to 2024(MR). | * Many teams laid off people in order to hire new skills and that will spill over to 2024(MR). | ||
* Don't have correct budget figure for AI capex(until 2024) since they don't know how their AI products will grow(MR). | * '''Don't have correct budget figure for AI capex(until 2024) since they don't know how their AI products will grow'''(MR). | ||
=== AI Products === | === AI Products === | ||
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* Open sourcing their Llama 2 model will likely result in more innovations, more security and safety features, more efficiency and skilled talent(Q&A). | * Open sourcing their Llama 2 model will likely result in more innovations, more security and safety features, more efficiency and skilled talent(Q&A). | ||
* Partnered with Microsoft (regarding Llama) because they have a public cloud offering, which they don't plan on building(Q&A). | * Partnered with Microsoft (regarding Llama) because they have a public cloud offering, which they don't plan on building(Q&A). | ||
* Their partnership with Microsoft and more companies in future will generate more revenue for Meta though not much in the near term(Q&A). | * '''Their partnership with Microsoft and more companies in future will generate more revenue for Meta though not much in the near term'''(Q&A). | ||
* CFO Susan Li said that Llama is not going to result in a seperate topline enterprise revenue(Q&A) | * '''CFO Susan Li said that Llama is not going to result in a seperate topline enterprise revenue'''(Q&A) | ||
* Zuckerberg said the scale of adoption of Llama spurred them to develop Llama 2(Q&A). | * Zuckerberg said the scale of adoption of Llama spurred them to develop Llama 2(Q&A). | ||
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* Growth in impressions was mostly in lower monetizing surfaces and regions(MR). | * Growth in impressions was mostly in lower monetizing surfaces and regions(MR). | ||
* '''Daily Click-to-Whatsapp ads revenue grew 80% y/y'''(MR). | * '''Daily Click-to-Whatsapp ads revenue grew 80% y/y'''(MR). | ||
* Have gotten positive feedback from Advantage+ users(Q&A). | * '''Have gotten positive feedback from Advantage+ users'''(Q&A). | ||
=== Regulatory Environment === | === Regulatory Environment === | ||
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* Quest 3 to come up this fall at connect event(MR). | * Quest 3 to come up this fall at connect event(MR). | ||
* Quest 3 will have 2x graphics and will be 40% thinner(MR). | * Quest 3 will have 2x graphics and will be 40% thinner(MR). | ||
* They will continue investing in Reality Labs because they believe they will continue to be leaders in the space(Q&A). | * '''They will continue investing in Reality Labs because they believe they will continue to be leaders in the space'''(Q&A). | ||
=== Threads === | === Threads === | ||