Meta Q1 FY23 Results: When It All Matters (TSOH Investment Research Service)
Portfolio Pulse from The Science Of Hitting
Meta Platforms Inc (NASDAQ:META) reported Q1 FY23 results, with over 3 billion daily users across its services. The company saw a 26% YoY increase in ad impressions, the highest growth rate since FY20. Time spent on Instagram increased by over 20% since the launch of Reels.
June 21, 2023 | 9:00 pm
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POSITIVE IMPACT
Meta Platforms Inc's Q1 FY23 results show strong growth in daily users, ad impressions, and engagement on Instagram. The company continues to effectively monetize its services.
Meta's Q1 FY23 results indicate that the company is successfully growing its user base and engagement, particularly on Instagram. The 26% YoY growth in ad impressions and over 20% increase in time spent on Instagram since the launch of Reels demonstrate the company's ability to effectively monetize its services. This positive news is likely to have a short-term positive impact on Meta's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100