Meta’s New Year of Efficiency Won’t Look Like the Old One

A social-network company serving nearly half the world’s population should be pretty efficient at giving everyone something they want. But that was a particularly tall order for Meta Platforms in its most recent quarter. 

The parent company of Facebook, Instagram, WhatsApp and new Twitter challenger Threads posted largely strong results for the period late Wednesday. Advertising revenue jumped 24% year-over-year to $33.6 billion, beating Wall Street’s targets. Daily active users both for Facebook and the company’s broader Family of Apps also grew more than analysts had expected. Facebook even added 10 million daily active users in the U.S. and Canada compared with consensus forecasts calling for zero growth in what is still the company’s most important ad market.