Daily Active Facebook Users Leaps To 1.96 Billion In Q1

Meta’s report on the first quarter highlights the growth in the number of daily active Facebook users.

This marks a turnaround for the company after it lost billions in market value for the first time following a drop in users.

“More people use our services today than ever before, and I’m proud of how our products are serving people around the world,” said Mark Zuckerberg, CEO of Meta.

Meta’s revenue in the first three months of the year rose only 7% to $27.9 billion but still fell 20% year-on-year.

Meta’s expected revenue in the coming months is between $28 billion and $30 billion, below analysts’ estimates.

While Meta faces stiffer competition from newer platforms like TikTok, a new privacy policy from Apple has made it more difficult for the company to target advertising.

One of the strategies Zuckerberg sees to solve Meta’s advertising problem is to invest in its video “Reels” which will help the company’s platforms compete with TikTok.

For the next phase of growth, Zuckerberg said the company would invest heavily in artificial intelligence and virtual reality.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

ITW in your inbox

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

More Best of The Web