Facebook now has 2 billion daily active usersMeta reported along with its fourth-quarter earnings, confirming that Mark Zuckerberg’s grand creation is still going strong nearly 20 years later.
The report, cited in a report published on the website of Engadgetmarks the first time that Facebook, which added 16 million users last quarter, has reached 2 billion daily users.
Although Facebook is not the first platform owned by Meta to reach 2 billion daily users since WhatsApp did before it, shows that the company’s largest source of advertising revenue continues to groweven as Meta has made significant cuts to its business.
In recent months. Zuckerberg alluded to the company’s recent restructuring, which resulted in the elimination of more than 11,000 jobs, and sold 2023 and his management theme as “The Year of Efficiency.”
Meta’s revenue at the end of 2022
Although Meta’s revenues have declined over the past year, the company’s $32.2 billion for the last quarter of 2022 was still slightly better than expectedeven with 4 percent less than last year.
During a call with analysts, Mark Zuckerberg suggested that Meta will continue to cut as it insists on efficiency: “We’re going to be more proactive in killing projects that don’t work or aren’t as crucial anymore”.
The CEO also confirmed that generative artificial intelligence (AI) would be a priority for the company in the coming year: “Generative AI is an extremely exciting new area with so many different applications. One of my goals for Meta is to leverage our research to become a leader in generative AI.”.
On the other hand, Meta also continues to lose huge amounts of money on its metaverse investments. Reality Labs, the division that oversees its virtual reality, augmented reality and metaverse projects, lost $4.3 billion in the fourth quarter of 2022 and nearly $14 billion for the full year. However, the company stated that they will continue to invest in these sectors.