The past few months have been amazing for Meta, at least that’s what the Meta Q4 2022 report says.
Meta Platforms posted an impressive revenue beat in the fourth quarter and a current quarter guide that was better than feared.
First off, on active users – Facebook’s monthly active user count rose to 2.96 billion in the quarter, a slight increase on Q3.
Facebook’s daily active figures are much the same – largely stagnant, though people in the Asia Pacific are coming back to the platform more often.
According to internal insights viewed by The Wall Street Journal, Meta did see an uptick in usage in Q4, largely driven by Reels consumption, which Meta chief Mark Zuckerberg sees as an indicator of the company’s evolving AI recommendation systems.
“Our community continues to grow and I’m pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives. The progress we’re making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization.”
Meta’s revenue results are solid, but are still down on Q4 last year.
Summary –
- The past few months have been amazing for shareholders of Facebook parent Meta Platforms, with shares roaring higher after previously crashing.
- The market is finally coming to terms with how to think about the business, though analysts are still quite bearish.
- The company has risen materially, but META shares are still very cheap and offer attractive upside from here.
You can read the complete Meta Q4 2022 Report here.
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