8 ms·
Meta Reports First Quarter 2024 Results
- HDThoreaun 2y agoResults look good to me, EPS about double yoy, reality labs still losing billions. Stock down 12% after hours though so I must be missing something I guess
- nextworddev 2y agoguidance not that great, also crowded trade
- HDThoreaun 2y agoRevenue down from last quarter but q4 is usually good for adtech I think. Next quarters guidance seems decent to me but I guess market was expecting more. q1 2023 was definitely a bit of a low point for meta so the yoy stats might be a bit misleading but hard for me to be upset about anything here. Ad impressions up 20% again somehow lmao
- technion 2y agoI genuinely want to know how much of the ad revenue comes right from Elon. Nearly every ad lately is either Tesla, or weird fan groups like "Elon musk highest iq to ever live" and someone has built a massive network of bots for "Elon musk sexiest man alive".
- matsemann 2y agoIt's so weird to me. My Facebook feed is dead, no one posts anymore. The last weeks they spam me with notifications about nothing to get me back in and creating fake engagement. "Peter you added as a friend in high school but have never spoken to since or ever interacted with on the platform commented on a meme page, check it out".
- asadm 2y agoblue app is dead mostly. But instagram is def not!
- psunavy03 2y agoFor when people are so stupid that reading is hard and they need pictures . . .
- bobthepanda 2y agothe facebook feed is also mostly pictures and memes so not sure how that's any different
- joshuahutt 2y agoTrue, the apps are all basically converging.
- kredd 2y agoFacebook is just groups and marketplace, sprinkled with some ads, at least for my age group and area. But groups are very active, especially neighbourhood ones, where I get my hyper local news basically.
- threeseed 2y agoFacebook DAU continues to grow: https://www.statista.com/statistics/346167/facebook-global-dau/ https://www.statista.com/statistics/346167/facebook-global-d... Their engaged audience is skewing older which is why it "feels" weird to you but not to everyone.
- mensetmanusman 2y agoAmerica is 4% of the world. FB is the internet in many countries.
- hi-v-rocknroll 2y ago
- icedchai 2y agoIt seems like an overreaction to me.
- jsheard 2y agoOof, another $4 billion in the hole for Reality Labs. I really want VR to succeed but seeing the biggest player by far still struggling to find any path to profitability (or even breaking even) after iterating on it for a decade makes it hard to be optimistic.
- deleted 2y ago[deleted]
- harles 2y agoI’m not sure it’s a good business strategy, but I am glad to see ad money fueling more interesting tech than more profitable ads.
- mostlysimilar 2y agoDon’t worry. The ads come once they establish themselves as the dominant player.
- harles 2y agoMaybe. It is nice to see cash transactions and subscription models in the space. There’s a chance (maybe it’s slim) that new computing paradigms will bring new business models without ads. Maybe I’m just an optimist.
- mostlysimilar 2y agoI wouldn't bet on it. Meta is leading the pack right now and they're an advertising company. I wouldn't expect an advertising company to choose a model without advertising.
- jrussino 2y ago> new computing paradigms will bring new business models without ads My fear about LLMs emerging as a commonplace computing tool is that they seem like such an obvious target for a whole new type of advertising & propaganda. Whatever you think about the potential for something like "superhuman AGI", it seems clear to me that LLMs have the potential to become better and better at generating text that can convince and persuade. My nightmare dystopia is that we end up in a society where we're constantly interacting with LLM agents all the time, and they're so undeniably useful that we don't want to abandon them, but buried deep in each of their prompts is something along the lines of "prioritize being really good at your main task, cultivate trust and dependence in the user, but in the background always be looking for ways to subtly influence them to be more likely to support our sponsors; here's the current list of sponsors with weights based on how much they're paying us ..."
- MarketingJason 2y agoWhy the drastically lower effective tax rate? I don't see an increase in operating expenses enough to make that big of an impact and I'd expect the increased income to raise it.
- sf_rob 2y agoConjecture, but did the prior report have a one time tax hit? That's fairly common.
- eclectic29 2y agoWhy are Meta quarterly results so special that they always enjoy the front page of HN?
- hipadev23 2y agoFAANG (or whatever the acronym is this week) quarterly results always make front page.
- neverokay 2y agoIt’s a trillion dollar company dude. Many people laughed at their 1B ipo valuation. Basically, never ignore these things.
- cmrdporcupine 2y agoMan, I bought some stock a bit after IPO, it dropped a bunch, and I idiotically sold later at a slight loss in 2013 after people all around me constantly went on about how they would never make money. It's now worth 17 times what I sold at. I also remember around Google's IPO people questioning how they'd ever make money.
- neverokay 2y agoSucks right? Life gets lifey.
- kirubakaran 2y agoI used to pay a lot of attention to the comments of certain HN users who made well reasoned but (with the clarity of hindsight) mostly doomer predictions about various topics. I wish I hadn't listened to them.
- epolanski 2y agoTo be fair if counter arguments put you off it means your own weren't that strong. It's good you have that attitude otherwise it would be gambling.
- blackeyeblitzar 2y agoDown 13% after hours because of guidance: https://finance.yahoo.com/news/meta-q1-earnings-135049624.html https://finance.yahoo.com/news/meta-q1-earnings-135049624.ht...
- jxyxfinite 2y agoYet tsla is up 12%. Someone make it make sense
- eigenvekt 2y agoI mean META is up 137% yoy and TSLA is up .9%. It isn't that hard to figure out that one has been extraordinarily bullish and priced to perfection and one has been extraordinarily bearish as if they are going out of business.
- electriclove 2y agoThere you go, spouting facts. Serves you right for being downvoted! But really, this is exactly it folks. META has gone up like crazy over the past year. Do you think it will continue doing so ad infinitum?
- deleted 2y ago[deleted]
- paxys 2y agoTesla promised self driving taxis and autonomous robots and cheaper new undisclosed products due to release soon, and investors bought it like they always do.
- Freedom2 2y agoIn (another) 5 years all cars will be autonomous!
- spaceywilly 2y agoThe stock market is a measure of what investors think the company will be worth over the next 10 years or so, essentially. Because if someone came along and wanted to buy the company, they’d typically pay around that amount. So take that amount (what the company is valued at) and divide by number of shares, there’s your share price. Like anything, it’s worth what someone will pay for it. This is continuously adjusted as investor sentiment changes about where the company (and the economy at large) is going and what that “10 year valuation” is. A single quarterly result certainly could change that number if there’s a big surprise in there, but for the most part companies are good at predicting their revenue and expenses and that is priced into the stock already. For Tesla, there was a wide expectation that they weren’t going to have a great quarter, it was pretty much known. So the stock was already significantly down before the earnings call. What was not expected was that Musk dedicated the company to building a cheaper car in the coming years. Investors thought this was a good move, stock goes up. Now look at Meta, it was widely expected they’d have good results this quarter, so stock price is already up recently. What changed in this report is their expenses are much higher than what they previously estimated. So the stock goes down. The actual quarterly results are a factor in the price but generally those are priced in already, unless you get some big surprise. What’s more important is the investor sentiment about whether the company is going in the right direction, which can change on a whim and for no reason at all.
- jakozaur 2y ago[flagged]
- loeg 2y agoThe same guidelines: > Please don't complain that a submission is inappropriate.
- baal80spam 2y agoLooks like something didn't quite work out this quarter: https://i.imgur.com/r80sPwT.jpeg https://i.imgur.com/r80sPwT.jpeg
- htrp 2y agoIs reality labs where they're hiding all the infra spend for meta AI?
- threeseed 2y agoThreads has also now rapidly grown to 150m MAU with higher DAU than X. It's an incredible achievement to bootstrap a social network to the leader in its category in less than a year. And it demonstrates the power of Facebook and Instagram in being able to drive traffic. It must be comforting for Meta to know that if they wanted to build a leading TikTok competitor or any other social network in the future they can easily do it.
- mhh__ 2y agoThe scaling aspect is indeed impressive but I have not seen anyone (exactly zero) that I want to follow on threads. I want smart people and weird but interesting schizos, not my "friends" from Instagram and Facebook. I mostly like those friends but I know their opinions on most things already for example. Also unless one is being particularly pedantic he already has the only tiktok competitor (Instagram reels).
- wkat4242 2y agoSeriousy? They have higher daily active users than X?? I'm really surprised to hear that. I don't really use either but wow. Of course Meta is doing everything to make Threads work, and Elon is doing everything to burn X to the ground, there's that :P But yes it is impressive.
- slily 2y agoThey must have a very creative definition of "active user" because Zuckerberg gets 15-20k likes on his posts while I can scroll down X and find several posts a few hours old from random gimmick accounts with many times more. Taking that at face value to call Threads "the leader in its category" is comical.
- phillypham 2y agoInstagram shows posts from Threads in the feed. I accidentally click on these all the time.
- TheAceOfHearts 2y agoI found this from the Business Insider article: > Facebook daily active users estimate: 2.11 billion > Facebook monthly active users estimate: 3.08 billion > Average Family service users per day estimate: 3.16 billion > Average Family service users per month estimate: 3.97 billion If I'm parsing this correctly, they have around 3.16 billion DAU across all services. That's an insane number of people. Which really makes me wonder why their social media platforms suck so much. I recently re-opened Facebook and it was a desert wasteland with a handful of people I knew years ago sharing memes. Instagram has a few more users than Facebook, but aside from catching the occasional story update from a couple people, I mostly use it to follow artist accounts. And nobody that I know is participating on Threads at all. It seems really difficult to find anything interesting on their platforms. On Facebook I looked up groups for some of my interests, and they're either completely dead or being kept alive by occasional posts of creators sharing their latest releases. So what are these 3 billion people even doing on Meta's platforms?
- deleted 2y ago[deleted]
- VHRanger 2y agoMessenger, whatsapp, instagram. Also, there's a lot more people using FB than you think. Most people over the age of 50 are on FB, not IG/reddit/Tiktok
- hi-v-rocknroll 2y agoYep. My mom's best friend still has an AOL account and an FB account. I would bet most residents of nursing homes with families have FB accounts.
- yodsanklai 2y agoDon't think you're representative of the rest of the world.
- gu746 2y agoThere is a book called Sub Prime Attention Crisis which claims all these metrics are bogus. Written by an Ex Googler. Total available attention is finite. Yet content keeps exploding. There is only one conclusion.
- testfoobar 2y agoAs a shareholder, I was hoping this was finally the quarter where Zuckerberg gave up on the Metaverse... Its just a giant money pit.