Meta published its third-quarter financial results yesterday, including the latest figures for its family of services.
Meta recorded 3.14 billion ‘daily active people’ across Facebook, Instagram, WhatsApp, Messenger and its other services. That’s up 7% year-on-year.
Meanwhile its monthly active people total is nudging four billion (3.96bn to be exact) and that was also up 7% from a year ago.
Meta’s business is also rebounding from its initial Covid-19 hit in terms of revenues: it generated $34.15bn in the third quarter of 2023, up 23% year-on-year.
(Or, if you like gritted-teeth comparisons, that’s nearly $8bn more than global recorded-music industry revenues for the whole of 2022.)
Not everything is going swimmingly for Meta, mind. CNBC noted that revenues for its metaverse-focused Reality Labs division were down 26% year-on-year to $210m, well below analysts’ expectations.
The division’s operating losses since the beginning of 2022 now total more than $21bn.
On the more positive side, Meta CEO Mark Zuckerberg pushed back against reports that the company’s new Twitter rival Threads is struggling to attract and retain users.
According to Zuckerberg, it now has “just under” 100 million monthly users. “We’re three months in now, and I’m very happy with the trajectory,” he said.
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