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Meta $META Q1 2023 Earnings Insigts
- Number of Family daily active people (DAP) and monthly active people (MAP) increased by 5% YoY, indicating continued growth in the user base.
- Ad impressions have increased by 26% YoY, while the average price per ad has decreased by 17% YoY. While the company is delivering more ad impressions, it is charging advertisers less for them.
- Continued restructuring efforts - Incurred pre-tax restructuring charges of $621 million in Q1 2023. Also announced further layoffs in March 2023, with the aim of reducing its company size by approximately 10,000.
- Largest Free Cash Flow in 4 quarters - This is big as it shows that the cost cutting measures are already bearing fruit.
- Guidance - Revenue: Q2 2023 revenue to be in the range of $29.5-32 billion. FY 2023 total expenses in the range of $86-90 billion, which is an update from its prior outlook provided in March. Includes $3-5 billion of restructuring costs.
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