EntertainmentWhat Really Happened to Threads

What Really Happened to Threads

what happened to Threads?

Image Source: Amirali Mirhashemian

Meta Discloses Financial Results for 2023, with Emphasis on Threads

At the outset of this year, tech companies have followed the trend from 2023 by laying off a significant number of employees while prioritizing the advancement of artificial intelligence. Despite multiple rounds of layoffs last year, Meta has reported a strong performance in Q4 of 2023 and overall success in the year, largely attributed to its focus on AI development and the positive reception of Threads, Meta’s Twitter alternative.

According to Meta’s founder and CEO Mark Zuckerberg, Threads has experienced continuous growth, surpassing its initial user base peak, with over 130 million monthly active users currently engaged on the platform. Within 24 hours of its launch, Threads attracted 30 million users, showcasing promising potential for Meta.

Meta’s board of directors has announced a cash dividend of $0.50 per share for both Class A and Class B common stock, scheduled to be paid on March 26, 2024. This marks the beginning of a quarterly cash dividend strategy, subject to market conditions and board approval.

Throughout 2022, Meta implemented various efficiency measures to realign its business priorities, including data center optimization, employee layoffs, and facility consolidation. By the end of 2023, Meta had completed these initiatives, leading to a restructured operational framework.

In the fourth quarter of 2023, Meta observed a 21% year-over-year increase in ad impressions across its platforms, such as Facebook, Instagram, and Threads, accompanied by a 2% rise in the average price per ad. For the full year, ad impressions grew by 28%, while the average ad price decreased by 9%.

Zuckerberg expressed satisfaction with the company’s progress in the realms of AI advancement and the metaverse, signaling positive momentum for Meta’s future growth. Forecasts for the first quarter of 2024 estimate a total revenue range of $34.5-37 billion, with yearly expenses projected at $94-99 billion.

Despite generating substantial operating losses, Reality Labs, Meta’s augmented/virtual reality division, remains focused on product development and ecosystem expansion. Meta’s commitment to operational discipline and product enhancement has improved advertising performance and positioned the company for continued success.

Summing up the achievements of the past year, Meta notes significant strides in operating efficiency, product development, and advertising enhancements to benefit businesses utilizing its services.

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