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 slides below $106 on easing supply concerns

Asia markets mixed after Fed delivers first rate hike in 3 years

Fed delivers first rate hike since July 2023, lifts benchmark to 4%

Name	Price/Vol	%Chg/NChg
KSE100	169,272.99 45.61M	0.74% 1251.18
ALLSHR	102,357.63 136.35M	0.79% 800.69
KSE30	50,361.25 24.33M	0.74% 369.77
KMI30	240,673.92 22.10M	0.72% 1720.12
KMIALLSHR	66,360.96 82.96M	0.80% 528.85
BKTi	47,068.17 7.59M	1.00% 465.57
OGTi	34,583.39 1.70M	0.81% 277.20

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,275.00	76,805.00 75,655.00	190.00 0.25%
BRENT CRUDE	104.85	106.02 104.21	-0.98 -0.93%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	4.60 3.67%
ROTTERDAM COAL MONTHLY	138.50	0.00 0.00	-0.55 -0.40%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	101.43	102.47 101.07	-1.00 -0.98%
SUGAR #11 WORLD	18.01	18.18 17.68	0.07 0.39%