‘It’s up to Instagram to serve as the engine of growth’: Meta’s Q1 net profit down 21% YoY

The Californian group generated $7.47 billion in net profit in the first quarter, down 21% year on year, for sales approaching $28 billion (+7%). Its title jumped almost 19% during electronic trading after the closing of the New York Stock Exchange.

Above all, it has not lost users again. In February, the social network admitted to losing, for the very first time, around one million active daily users. At the end of March, Facebook had 1.96 billion daily users, and some 3.64 billion people worldwide use at least one of the group’s platforms (Facebook, Instagram, Messenger, WhatsApp) every month, two figures up slightly. But “Facebook user growth is stagnating“, underlined Debra Aho Williamson, analyst at eMarketer.

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‘It’s up to Instagram to serve as the engine of growth’: Meta’s Q1 net profit down 21% YoY


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