Meta is like a fine wine in two ways: It gets better with age, and appreciating it requires a discerning palate. TheRealLSL:
That’s probably hard for investors to accept given Facebook was growing like a weed, and now isn’t. Revenue jumped more than 60% between 2019 and 2021, but on Wednesday Meta said that total revenue in the second quartercompared to the same quarter last year, and that third-quarter revenue is likely to be flat at best. Meta depends on selling advertising for its revenue, and the average ad price fell 14%.
How users engage is a concern too. Facebook only had 1% more active users in the quarter ending June than it did a year earlier, and lost a few from the preceding quarter. Still, some signs suggest Meta is standing the test of time. Though the average minutes spent on its apps are declining, Facebook and Meta-owned sibling Instagram are second and third in engagement behind newer TikTok, according to research from Cowen.Having been around the block, Meta at least knows how to turn a profit.
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