• btc = $70 917.00 - 164.28 (-0.23 %)

  • eth = $3 804.69 -59.93 (-1.55 %)

  • ton = $7.63 0.40 (5.58 %)

  • btc = $70 917.00 - 164.28 (-0.23 %)

  • eth = $3 804.69 -59.93 (-1.55 %)

  • ton = $7.63 0.40 (5.58 %)

2 Feb, 2023
1 min time to read

Following the recent results of the year 2022, Mark Zuckerberg, Meta founder and CEO, declared 2023 as the "Year of Efficiency".

In a financial statement, Meta reported its first annual sales fall since 2012, the sales lost 1% and got to $116.6 billion in 2022. Also Mark Zuckerberg announced that Facebook "reached the milestone of 2 billion daily users".  

Meanwhile, it was stated in the report that the advanced algorithms on Meta`s video Reels service proved their efficiency in performing short clips on Facebook and Instagram on the background of a tough competition with TikTok and YouTube.

Moreover, the social media giant focuses on artificial intelligence to improve ads distribution and aims to become a leader in generative AI. The time Meta lost the tool of targeting users and distributing ads was the year 2021 when Apple updated data privacy and enabled users to evade tracking their online activity by installed apps. That change significantly impacted Meta`s revenue and the company enhanced AI-driven targeting.

Meta has not yet completed its "metaverse" and Meta`s Reality Labs division is bringing high operating losses. Insider Intelligence analyst Debra Aho Williamson declared:

"With losses at its VR division mounting, Mark Zuckerberg is going to have to accept an unfortunate reality: Virtual worlds are simply not what businesses or consumers want right now."

However, Meta CFO Susan Li announced:

"We still expect our full year Reality Labs losses to increase in 2023 and we are going to continue to invest meaningfully in this area given the significant long term opportunities that we see."