Meta Q3 earnings: ad revenue declined 4%, but monthly users showing promise – Search Engine Land
Meta shared its 2022 Q3 earnings today and, as expected, performance left a lot to be desired. Advertising revenue came in at $27.2 billion, down roughly 4% year-over-year.
The positives. Overall ad impressions were up 17%, while the cost per ad decreased 18% YoY.
Monthly active users on the platform increased 2% to 2.96 billion YoY.
Not news. Meta isn’t alone when it comes to underperforming earnings. This week Google and Microsoft also released worse-than-expected results, to the disappointment of investors. SNAP also reported their slowest-ever quarterly growth last week, but added 6% more monthly users.
Frankly, Meta’s poor performance is (probably) no surprise to anyone. Meta shares are down nearly 60% YTD and inflation, a shaky economy, and privacy changes certainly contribute. At closing today, shared decreased another 7.69%.
iOS and ongoing TikTok competition. Meta is still dealing with a host of challenges due to the implementation of iOS14, including growing competition…
The post Meta Q3 earnings: ad revenue declined 4%, but monthly users showing promise – Search Engine Land first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2022/10/26/meta-q3-earnings-ad-revenue-declined-4-but-monthly-users-showing-promise-search-engine-land_2022102634439.html
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