Meta platforms beats Q2 earnings, loses billions on Metaverse

MG News | July 27, 2023 at 11:42 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

July 27, 2023 (MLN): Meta Platforms, Inc. (NASDAQ: META) reported its earnings for the second quarter of 2023, wherein the revenue clocked in at $32 billion [EPS: $2.98], beating analysts’ estimate of $31.08bn [EPS: 2.91].

Going by the latest earnings report made available by META, the company’s employees as of June 30 stood at 71,469, down by 14% YoY.

While the daily active users of the platform in the second quarter of 2023 stood at 2.06bn, compared to analysts’ estimate of 2.03bn.

The company has lost a total of $13.7bn on its Metaverse development over the last year.

Meta Platforms sees third-quarter revenue of around $32-34.5b.

Copyright Mettis Link News

Related News

Asian markets waver after global tech selloff

SpaceX loses $600bn in three-day rout

Oil holds firm Iran agreement lifts market sentiment

Name	Price/Vol	%Chg/NChg
KSE100	179,442.12 270.27M	0.98% 1749.21
ALLSHR	108,500.47 503.47M	0.91% 973.08
KSE30	53,511.96 95.62M	0.92% 489.08
KMI30	256,509.95 90.35M	0.68% 1720.69
KMIALLSHR	70,508.97 345.16M	0.82% 571.83
BKTi	48,753.42 20.03M	1.64% 786.78
OGTi	37,021.88 3.86M	0.51% 188.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	62,660.00	63,045.00 62,390.00	295.00 0.47%
BRENT CRUDE	76.07	77.00 75.85	-1.01 -1.31%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	0.50 0.44%
ROTTERDAM COAL MONTHLY	125.90	125.90 125.90	-0.15 -0.12%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	72.27	73.18 72.03	-0.94 -1.28%
SUGAR #11 WORLD	13.94	13.96 13.83	-0.01 -0.07%