In its Q2/2023 business results report, Meta said more than 3 billion people (nearly 40% of the world's population) are active on Facebook each month, up 6% year-on-year and the fourth consecutive quarter of growth.
Still, most of the new users came from outside the US and Canada, signaling the social network's popularity may be leveling off in its home market.
Facebook's monthly active users in the US and Canada increased by about 1 million, while those in Europe fell by 2 million. Asia- Pacific and the rest of the world contributed 25 million and 16 million new users, respectively, according to the report.
As of June 30, the total number of users of Meta's other apps – Instagram, WhatsApp, Messenger, Thread – reached nearly 3.9 billion, the highest ever.
Meta launched Threads on July 5, so the numbers aren’t included in its Q2 report. In its first five days, the “Twitter killer” attracted more than 100 million users.
The results suggest that Facebook and Meta’s suite of apps have recovered. CEO Mark Zuckerberg has called 2023 “the year of performance.” The company has already gone through three rounds of layoffs. After the second round, 24% of Meta’s 87,000 employees were laid off. Meta is second only to Twitter in size, with the company laying off 80% of its employees since October 2022.
Meta's second-quarter 2023 revenue reached $31.9 billion, up 11% from the same period in 2022 and exceeding Wall Street expectations. That sent Meta shares up 6.84% in after-hours trading on July 26.
(According to Insider)
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