If revenue falls in the metaverse, does it make a sound? For the first time in Meta’s history, it reported a year-over-year decline in total revenue, down 1% in the second quarter, to $28.8 billion – missing analyst estimates of $28.94 billion.
Signal loss – and dealing with it – was a big theme during Meta’s first quarter earnings call on Wednesday. Mark Zuckerberg referred to signal loss due to Apple’s privacy changes as a “meaningful headwind.”
In September, Meta (then still Facebook) alerted advertisers that Apple’s privacy changes were causing Facebook to undercount web conversions on iOS by around 15%. Meta now says it’s been able to close its measurement gap by nearly half, from 15% to roughly 8%.
Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here. Instacart Exit Seth Dallaire, out! Instacart’s ad chief is jumping over to Walmart as chief revenue officer amid a shakeup in the grocery delivery service’s executive ranks, Business Insider reports. Dallaire will work to scale Walmart Connect, the retail giant’s ad platform unit – […]
Facebook’s Q2 advertising revenue soared 56% to $28.5 billion year-over-year, though the company warned investors it expects a revenue slowdown beginning in Q3 – the same time it will feel the full impact of Apple’s recent AppTrackingTransparency changes. The total number of ad impressions served across Facebook increased 6%, while the average price per ad […]
Facebook updated its targeting policies on Wednesday in the wake of the racist and anti-Semitic ad targeting scandal, first reported by ProPublica. COO Sheryl Sandberg clarified Facebook’s position in a post and laid out its three-pronged approach to running a tighter ship. Following the exposé and attendant public backlash, Facebook disabled the self-reported targeting fields […]
Facebook’s mobile ad growth was the big story in Q1, as ads served to handheld devices grew to 30% of all advertising revenue. Read the earnings release, or check out these highlights on the ad side: Total ad revenue grew 43% to $1.25 billion Mobile accounted for roughly 30% all Facebook ad dollars in Q1, […]
Facebook made solid progress on generating ad revenue, especially through growing use of its less than five-month-old Facebook Exchange and its aggressive focus on mobile advertising. At the same time, Facebook’s desire to spread itself and its products as widely and quickly as possible, particularly in developing countries, resulted in huge expenses — costs were […]
An hour after producing a Q3 earnings report that exceeded Wall St. analysts’ expectations, Facebook CEO and chairman Mark Zuckerberg came out swinging against doubts about the social network’s mobile footing. “I want to dispel this myth we can’t make money on mobile,” Zuckerberg said in prepared remarks. “The reason is, we haven’t really tried […]
