Meta's Revenue Declined in Q2 2022: Here's Why

Technology & Telecommunications

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Cindy Mutia Annur 02/08/2022 10:30 WIB

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Revenue dropped 1% in Q2 2022 compared to the same period last year. At least three factors contributed to the decline in revenue for the parent company of Instagram, Facebook, and WhatsApp.

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Meta's Revenue per Quarter (2018-2021)

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Meta Platforms Inc. (Meta), the parent company of Instagram, Facebook, and WhatsApp, reported revenue of US$28.82 billion, or approximately Rp428.66 trillion, in the second quarter of 2022 (using an exchange rate of US$1 = Rp14,873).

This figure represents a 1% decrease year-on-year (YoY). In the second quarter of 2021, Meta's revenue was US$29.07 billion.

Along with the decline in revenue, Meta's net income plummeted by approximately 36% (YoY) to US$6.68 billion in the second quarter of 2022.

According to Meta CEO Mark Zuckerberg, the company's declining revenue is due to several factors. Firstly, the Reels feature on Instagram is not yet optimally generating advertising revenue.

"Reels monetization isn't as good as Instagram Stories or Feed monetization, because Reels is still developing. So, in the future, when Reels grows and can be monetized, our revenue can also grow," Mark stated in a press release on Wednesday, July 27, 2022.

Secondly, Apple's policies are making it more difficult for app developers, such as Meta, to track user browsing habits and history.

Mark stated that Apple's policy significantly impacts Meta's advertising business, hindering the performance of the company's artificial intelligence (AI) in delivering relevant ads to users.

It should be noted that Meta's advertising services rely on AI technology tailored to user habits. If user habits cannot be tracked, the ads served by various Meta applications may not reach the target market.

Thirdly, macroeconomic issues in the United States (US) are also a factor suppressing Meta's revenue. In this situation, Mark said many companies are reconsidering advertising on Meta.

"We can't control when macroeconomic issues will end. But clearly, in situations like this, many companies will adjust their spending and cash flow to reduce operational costs," Mark said.

Despite the decline in revenue, Meta's user base has grown. Meta reported a 3% YoY increase in daily active users (DAUs) in the second quarter of 2022, reaching 1.97 billion users.

Meanwhile, the number of monthly active users (MAUs) also increased by 1% YoY to 2.93 billion users in the second quarter of 2022.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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