According to a statement by Meta, videos are played 200 billion times on Facebook and Instagram every day. Meta has done a lot of layoffs this year. By the end of June 2023, the number of employees of Meta is 71,469, which is 14 percent less than in June last year.
Facebook's parent company Meta has broken all earnings records in the quarter. In the quarter ended, Meta earned a net profit of $7.8 billion i.e. around Rs 63,949 crore, while the total revenue stood at $32 billion i.e. Rs 2,62,358 crore. In the last quarter, the number of monthly active users of Facebook has crossed the figure of 3.03 billion. Meta CEO Mark Zuckerberg has said that the company has made more profits than expected.
The year 2022 proved to be very bad for Meta. Meta suffered a lot after the change in Apple's data privacy because Apple's policy became an obstacle in the way of Meta's earnings.
After this report came to the fore, Meta's stock saw a jump of more than seven percent to $320.32 i.e. around Rs 26,262. Releasing this report, the company said that the number of advertisements on all its apps is increasing by 34 percent year-on-year.
The first choice of advertisers has emerged as Reels of Facebook and Instagram which is a copy version of TikTok. After Tiktok was banned in India in 2020, Meta launched Instagram and Facebook Reels which is a short video service.
According to a statement by Meta, videos are played 200 billion times on Facebook and Instagram every day. Meta has done a lot of layoffs this year. By the end of June 2023, the number of employees of Meta is 71,469, which is 14 percent less than in June last year.
(pc amarujala)
