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

Oil rises above $102 as Iran tensions stoke supply fears

Asian markets fall as Fed rate hike signals lift yields

Oil jumps above $101, Houthi attacks fuel supply concerns

Name	Price/Vol	%Chg/NChg
KSE100	167,441.91 152.07M	-0.68% -1138.50
ALLSHR	101,272.49 364.18M	-0.66% -673.69
KSE30	49,983.86 80.24M	-0.80% -405.13
KMI30	240,418.15 75.57M	-0.60% -1444.30
KMIALLSHR	65,553.86 231.48M	-0.61% -404.88
BKTi	46,509.81 8.96M	-0.76% -358.23
OGTi	34,065.97 3.89M	-1.32% -454.13

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,665.00	83,660.00 80,535.00	-1955.00 -2.34%
BRENT CRUDE	104.35	105.92 100.76	4.15 4.14%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	1.40 1.10%
ROTTERDAM COAL MONTHLY	143.85	146.10 143.85	0.40 0.28%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	91.49	93.20 88.77	3.21 3.64%
SUGAR #11 WORLD	20.19	21.03 20.09	-0.64 -3.07%