![]() In May, we're going to carry out our third wave across our business groups. So far, we've gone through 2 of the 3 waves of restructuring and layoffs that we have planned for this year in our recruiting and our technical groups. I also believe that a stronger financial position will enable us to weather a volatile environment while remaining focused on our longer-term priorities. ![]() Even as our financial position improves, I continue to believe that slowing hiring, flattening our management structure, increasing the percent of our company that is technical and more rigorously prioritizing projects will improve the speed and quality of our work. When we started this work last year, our business wasn't performing as well as I wanted, but now we're increasingly doing this work from a position of strength. The goals of our efficiency work are to make us a stronger technology company that builds better products faster and to improve our financial performance to give us the space in a difficult environment to execute our ambitious long-term vision. Now in a moment, I'll talk more about the results in our business and the opportunities that I'm excited about, but first, I want to share an update on our efficiency work. and Canada after last quarter reaching 2 billion daily actives worldwide. ![]() Facebook also reached the milestone of 200 million daily actives in the U.S. ![]() Our community reached a milestone that now more than 3 billion people use at least 1 of our apps each day. This was a good quarter, and we're seeing growing momentum in our products and business. Thanks, Deborah, and thanks, everyone, for joining. The press release and an accompanying investor presentation are available on our website at investor.fb.com.Īnd now I'd like to turn the call over to Mark.Īll right. A reconciliation of GAAP to non-GAAP measures is included in today's earnings press release. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events.ĭuring this call, we may present both GAAP and non-GAAP financial measures. Factors that could cause these results to differ materially are set forth in today's press release and in our annual report on Form 10-K filed with the SEC. Actual results may differ materially from those contemplated by these forward-looking statements. Joining me today to discuss our results are Mark Zuckerberg, CEO and Susan Li, CFO.īefore we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. Good afternoon, and welcome to Meta Platform's First Quarter 2023 Earnings Conference Call. Deborah Crawford, Meta's Vice President of Investor Relations, you may begin. (Operator Instructions) This call will be recorded. At this time, I would like to welcome everyone to the Meta First Quarter Earnings Conference Call. My name is Dave, and I will be your conference operator today. Youssef Houssaini Squali MD & Senior Analyst Truist Securities, Inc., Research Division Presentation Ross Adam Sandler MD of Americas Equity Research & Senior Internet Analyst Barclays Bank PLC, Research Division Michael Brian Nathanson Co-Founder, Founding Partner & Senior Research Analyst MoffettNathanson LLC Mahaney Senior MD & Head of Internet Research Evercore ISI Institutional Equities, Research Division Mark Elliott Shmulik Research Analyst Sanford C. Justin Post MD BofA Securities, Research Division Li CFO Meta Platforms, Inc.īrian Thomas Nowak Research Analyst Morgan Stanley, Research Divisionĭouglas Till Anmuth MD JPMorgan Chase & Co, Research DivisionĮric James Sheridan Research Analyst Goldman Sachs Group, Inc., Research Division Mark Elliot Zuckerberg Founder, Chairman & CEO Meta Platforms, Inc.
0 Comments
Leave a Reply. |