Key takeaways from Meta Q1 2023 revenue report

The Meta Q1 2023 report highlights the active usage of apps owned by Meta, the network’s standing in terms of revenue generated, and an update on the company's current headcount after the mass layoffs

Meta has released its revenue report for Q1 2023, which shows that Facebook's MAUs were 2.99 billion as of March 31, 2023, witnessing an increase of 2% year-over-year.

As per the report, Meta's revenue for the next quarter is estimated to be 29.5-32 billion USD, according to the CFOT Outlook Summary, ad targeting and measurement, macroeconomic hindrances, advertiser budgets, and exchange rates of foreign currencies, continue to have an effect on the revenue of Meta.

Commenting on the group's performance, Mark Zuckerberg, Founder & CEO, Meta, said, "We had a good quarter and our community continues to grow. Our AI work is driving good results across our apps and business. We're also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision."

Also Read: Meta to develop a generative AI tool to create ads

• Family daily active people (DAP) was 3.02 billion on average for March 2023, an increase of 5% year-over-year.
• Family monthly active people (MAP) was 3.81 billion as of March 31, 2023, an increase of 5% year-over-year.
• Facebook daily active users (DAUs) were 2.04 billion on average for March 2023, an increase of 4% year-over-year.
• Facebook monthly active users (MAUs) were 2.99 billion as of March 31, 2023, an increase of 2% year-over-year.
• Ad impressions and price per ad – In the first quarter of 2023, ad impressions delivered across our Family of Apps increased by 26% year-over-year and the average price per ad decreased by 17% year-over-year.
• Revenue – Revenue was $28.65 billion, an increase of 3% year-over-year, and an increase of 6% year-over-year on a constant currency basis.
• Costs and expenses – Total costs and expenses were $21.42 billion, an increase of 10% year-over-year. This includes charges related to our restructuring efforts of $1.14 billion in the first quarter of 2023.
• Capital expenditures – Capital expenditures, including principal payments on finance leases, were $7.09 billion for the first quarter of 2023.
• Share repurchases – We repurchased $9.22 billion of our Class A common stock in the first quarter of 2023. As of March 31, 2023, we had $41.73 billion available and authorized for repurchases.
• Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $37.44 billion as of March 31, 2023.
• Long-term debt – Long-term debt was $9.92 billion as of March 31, 2023.
• Headcount – Headcount was 77,114 as of March 31, 2023, a decrease of 1% year-over-year. Substantially all employees impacted by the layoff announced in November 2022 are no longer reflected in our reported headcount as of March 31, 2023. Further, the employees that would be impacted by the 2023 layoffs are included in our reported headcount as of March 31, 2023.