Meta doubles its profits in the third quarter

Estimated read time 2 min read

We emphasize it quite often here: the digital advertising market is really doing well, and more particularly on mobile thanks to social networks. According to the figures for the third quarter, Meta saw its turnover increase by 23%, generating a profit of 11.6 billion dollars. That is to say more than double than a year earlier!

Facebook Instagram, Threads, Messenger and WhatsApp, advertising obviously plays a crucial role and the time that users spend on their smartphone can only boost results. In the third quarter of last year, the views on advertising content thus increased by 31% compared to last year.

With more and more advertisements on social networks, a strong growth in the number of impressions and the arrival on the market of new countries where monetization is quite low, the average price per ad has fallen by 6%.

The cost reduction at Meta

The number of advertising impressions alone does not explain the price drop at Facebook’s parent company. The record profits achieved are also linked to a decrease in expenses of 7% in one year, or $ 20.4 billion less. Come again? By adjusting its organization and reducing its workforce by a third.

The number of users is growing rapidly, Meta can count on these 3.14 billion people connected daily on one of its services. More broadly, the company estimates that about four billion Internet users use one of its applications at least once a month.

And to finish this little optimization, the web giant is obviously betting on artificial intelligence to gain efficiency and reduce its costs a little more. According to Mark Zuckerberg, the use of chatbots is still in its infancy and we will still have to be patient before we see hundreds of millions of people using them completely.

New hires?

With its good results approaching the end of the year, Meta should consider recruiting again, but on strategic positions related to AI. Logical!

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