Despite last year’s cutbacks and mixed results, Facebook achieved well in the fourth quarter of 2022 2 billion daily active users. A result that was announced by Meta during the report on the fourth quarter of 2022. More generally, during Q4, Facebook earned around 16 million new subscribers.
A certainly auspicious result, in line with the numbers of the other social networks of the Meta group. WhatsApp, for example, also recently surpassed 2 billion daily active users. The finding comes after the company cut more than 11,000 jobs last year.
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Meta: Facebook’s active users are growing but revenues are decreasing
Meta’s financial Q4 was characterized by revenues of $32.2 billion. A result exceeding the company’s expectations, but still down by approximately 4% compared to the fourth quarter of the previous year. In presenting the data to the shareholders, the CEO Mark Zuckerberg announced that staff and project cuts will continue in 2023.
“We will be more proactive in cutting projects that are not working out or may not be as important anymore,” said the CEO. Zuckerberg also stated that generative AI will be one of Meta’s priorities for the foreseeable future. Specifically, he said: “One of my goals for Meta is to invest in research to become a leader in the field of generative AI”.
Among the critical points of the report there is certainly the Reality Labs division, which deals with VR, AR and metaverse projects. Reality Labs caused $4.3 billion in losses in the fourth quarter alone, for a gap of about $14 billion in 2022 as a whole, and Meta expects the division to continue to be loss-making for the foreseeable future.
“We expect Reality Labs’ full-year losses to increase in 2023,” it said. Susan Li, CFO of Meta. “We will continue to invest significantly in this area given the significant long-term opportunities we see.” The reference is obviously to the much-discussed metaverse of society.