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Mar 31, 2023
Meta Q1 2023 Earnings Report
Meta's first quarter results in 2023 showed revenue growth and a continued expansion of its user base.
Key Takeaways
Meta Platforms, Inc. reported a 3% increase in revenue year-over-year, reaching $28.65 billion. The company's family of daily active people (DAP) grew by 5% year-over-year, averaging 3.02 billion in March 2023. Despite increased costs and expenses, Meta is focusing on AI and efficiency to drive future growth.
Revenue increased by 3% year-over-year to $28.65 billion.
Family daily active people (DAP) reached 3.02 billion in March 2023, a 5% increase year-over-year.
Ad impressions across the Family of Apps increased by 26% year-over-year, while the average price per ad decreased by 17%.
The company repurchased $9.22 billion of Class A common stock during the quarter.
Meta
Meta
Meta Revenue by Segment
Revenue by Segment
Family of Apps Revenue
CapyFin.comReality Labs Revenue
CapyFin.com Forward Guidance
Meta expects second quarter 2023 total revenue to be in the range of $29.5-32 billion. Full-year 2023 total expenses are anticipated to be in the range of $86-90 billion. Capital expenditures are expected to be in the range of $30-33 billion.
Positive Outlook
- Second quarter 2023 total revenue to be in the range of $29.5-32 billion.
- Foreign currency headwinds will be less than 1% to year-over-year total revenue growth in the second quarter.
- Ongoing build out of AI capacity to support ads, Feed and Reels.
- Increased investment in capacity for our generative AI initiatives.
- Full year 2023 tax rate percentage to be around 20%.
Challenges Ahead
- Full-year 2023 total expenses will be in the range of $86-90 billion.
- Includes $3-5 billion of restructuring costs related to facilities consolidation charges and severance and other personnel costs.
- Reality Labs operating losses to increase year-over-year in 2023.
- Pending decision by the IDPC and the pending EU-U.S. Data Privacy Framework.
- Possibility that the proposed new EU-U.S. Data Privacy Framework will not be fully implemented in time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income