Meta’s new year of efficiency won’t be like the old one

A social media company serving almost half the world’s population should be pretty good at giving everyone what they want. But it was a particularly ambitious challenge for Metaplatforms during his last trimester.

Facebook parent Instagram, WhatsApp and new Twitter challenger Threads reported largely strong results for the period on Wednesday evening. Advertising revenue jumped 24% year over year to $33.6 billion, beating Wall Street targets. The number of daily active users, both for Facebook and the company’s broader family of apps, also increased more than analysts expected. Facebook even added 10 million daily active users in the United States and Canada, while consensus forecasts called for zero growth in what remains the company’s most important advertising market.