Credit: Florian Schmetz via Unsplash
Meta posted a 26% increase in revenue to $US51.24 billion as the social media group lifted the average price of ads by 10%.
Ad impressions delivered across Meta’ apps, including Facebook and Instagram, increased by 14% compared to the same quarter last year.
Meta said the number of daily active people was up 8% to 3.54 billion.
“We had a strong quarter, with our focus on driving growth with our advertising partners and our ongoing innovation agenda,” said Will Easton, managing director, Meta ANZ.
“This past quarter, we unveiled a new category of wearable AI products, including the Oakley Meta Vanguard and the Ray-Ban Meta 2.0 glasses.
“Looking forward, we see glasses as the most exciting new hardware category of the AI era, and we can’t wait for more Australians to experience them.
“Our leading AI-powered ad solutions continue to accelerate results for our partners, and we look forward to supporting them during the upcoming sales season.”
Meta expects December quarter total revenue to be in the range of $56 billion to $59 billion, with continued strong advertising growth, partially offset by lower Reality Labs revenue.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.