Meta has published its financial results for the second quarter of 2022. Turnover fell like never before. from $28.8 billion, 1% lower than the same period in 2021. This is a blow for a company that has grown steadily since its inception.
Moreover, net profit fell 36% Compared to the same period last year, it “only” reached $6.7 billion. Worrying results, even if Meta is still far from trouble.
Facebook gains fewer subscribers
The strength of the battle for meta is the number of users on both Facebook and Instagram. Currently, Facebook can boast Having 1.97 billion daily active users, 8 million more than in the previous quarter. Even if it looks like the network has reached its limits, it’s a minor improvement considering the loss of users in 2021. If we count Facebook, WhatsApp, Instagram and Messenger, Meta has 3.65 billion users.
The truth is that the end of exponential growth and the arrival of more popular competitors like Tik Tok It heavily penalizes Meta. Fewer users means less targeted advertising. Facebook is now struggling to renew itself and attract young people. To this must be added the constant monitoring of the advertising practices of the network, which has long been condemned. Instagram for its part is slowly losing its aura, the network is becoming less pleasant to use, with feeds full of ads or posts that are both unwanted and simply uninteresting.
The final nail in the coffin: Meta’s unsatisfactory reputation. The company has been prominent for the management of user data for several years, and users are increasingly reluctant to come to the company’s platforms. Either way, Meta is facing the biggest challenge in its history as it tries to raise the bar.
