Experts Weigh In On Meta Earnings

Meta Q1 Returns Strong

For the first time since it became a public company Meta, formerly Facebook, posted revenue growth in only the single-digit range. However, after significant losses beginning last year, this could indicate a resurgence in the social company’s profile. According to their latest earnings report, Meta revenue increased about 6% YoY; what is more impressive is that the Monthly Active People (MAP) score rose to 3.5 billion.

“Off the back of a critical Q4, where Meta saw staffing shifts, privacy changes, and a major rebrand, the giant is starting to see a moderately positive rebound after reporting losses last quarter,” said Gregg Morton, Co-Founder and CEO, Fooji. “Q1 brought a heightened focus on the Metaverse, Reels, and new revenue streams like brick and mortar stores, all of which are part of a mission to compete with leading social media platforms like ByteDance/TikTok that are quickly gaining market share.”

What Facebook’s Returns Mean For Marketers

For marketers, the stronger numbers Facebook is posting – especially their MAP scores – could mean that the grandfather of social media continue to be the place marketers need to be to engage with the consumer base.

“From a marketer’s POV, platforms like Facebook and Instagram are critical components of effective communication and engagement between brands and their fans. When leveraged and activated strategically, updates like the customizable link sticker and mention sticker, as well as Messenger’s API opening up to support Instagram DMs, have enabled marketers to customize and streamline their efforts,” said Morton. “Each of these updates have become important tools that enable marketers to build meaningful engagements between the two. Looking ahead…I’d expect them to zero in on building their competitive edge over other leading social platforms as competition grows.”

Jen Jones, CMO at commercetools agrees, and sees Meta’s Facebook and Instagram holdings as the new retail store. “For brands, this is an experimental moment where they can get their feet wet in a low-risk environment,” said Jen Jones, CMO, commercetools.

Facebook Outlook

Meta will release Q2 earnings in July, but with Q1’s showing the company is predicting continued growth. They are expecting Q2 revenue to come in between $28 and $32 billion.