Threads has also now rapidly grown to 150m MAU with higher DAU than X.<p>It's an incredible achievement to bootstrap a social network to the leader in its category in less than a year. And it demonstrates the power of Facebook and Instagram in being able to drive traffic.<p>It must be comforting for Meta to know that if they wanted to build a leading TikTok competitor or any other social network in the future they can easily do it.
Results look good to me, EPS about double yoy, reality labs still losing billions. Stock down 12% after hours though so I must be missing something I guess
Oof, another $4 billion in the hole for Reality Labs. I really want VR to succeed but seeing the biggest player by far still struggling to find any path to profitability (or even breaking even) after iterating on it for a decade makes it hard to be optimistic.
Why the drastically lower effective tax rate? I don't see an increase in operating expenses enough to make that big of an impact and I'd expect the increased income to raise it.
Down 13% after hours because of guidance:
<a href="https://finance.yahoo.com/news/meta-q1-earnings-135049624.html" rel="nofollow">https://finance.yahoo.com/news/meta-q1-earnings-135049624.ht...</a>
Looks like something didn't quite work out this quarter: <a href="https://i.imgur.com/r80sPwT.jpeg" rel="nofollow">https://i.imgur.com/r80sPwT.jpeg</a>
I found this from the Business Insider article:<p>> Facebook daily active users estimate: 2.11 billion<p>> Facebook monthly active users estimate: 3.08 billion<p>> Average Family service users per day estimate: 3.16 billion<p>> Average Family service users per month estimate: 3.97 billion<p>If I'm parsing this correctly, they have around 3.16 billion DAU across all services. That's an insane number of people.<p>Which really makes me wonder why their social media platforms suck so much. I recently re-opened Facebook and it was a desert wasteland with a handful of people I knew years ago sharing memes. Instagram has a few more users than Facebook, but aside from catching the occasional story update from a couple people, I mostly use it to follow artist accounts. And nobody that I know is participating on Threads at all.<p>It seems really difficult to find anything interesting on their platforms. On Facebook I looked up groups for some of my interests, and they're either completely dead or being kept alive by occasional posts of creators sharing their latest releases.<p>So what are these 3 billion people even doing on Meta's platforms?