The CEO of Facebook, Mark Zuckerberg, recently held an earnings call to talk about the company’s progress and plans for the future. During this call, Zuckerberg talked about the company’s growth in daily active users and engagement across Facebook, Instagram, WhatsApp, and Messenger. He also said that 2023 would be the “Year of Efficiency,” and that the company would focus on getting stronger and more flexible.
The AI discovery engine and Reels, which have been very popular with users, have helped Facebook grow a lot. Facebook now has 2 billion people who use it every day. This makes it one of the biggest social media sites in the world. Through its family of apps, the company reaches more than 3.7 billion people every month. This makes it a major player in the digital world.
Zuckerberg also talked about the “Year of Efficiency,” which is his management theme for the year 2023. The company has taken some steps to improve its productivity and cost structure, such as cutting projects that aren’t working and getting rid of layers of middle management. AI tools are also used by the company to help its engineers work faster and be more productive.
Facebook also pays a lot of attention to its AI discovery engine and Reels, which are growing quickly. Over the past year, the number of Reels plays on Facebook and Instagram has more than doubled, and the social aspect of people sharing Reels has grown even faster. The company is also working to make Reels more profitable so it can show more of them without losing money. Reels’ ability to make money on Facebook has doubled in the last six months, and the company is on track to break even by the end of this year or early next year.
Facebook is putting money into AI to help its ads business, and it has seen good results. Over 20% more conversions have happened in the last year than in the year before. This, along with a lower cost per acquisition, has led to a higher return on ad spend. The company is also excited about the chance to make money with business messaging, which it hopes will become the next main part of its business.
Facebook’s discovery engine and ads business are both based on AI, and the company is also building up its research to become a leader in generative AI. Zuckerberg’s goals for Meta are to let it make new products and change its apps in other ways.
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