forecast that second quarter revenue would be above market expectations. this confirms the view that digital advertisers are betting on well established platforms such as facebook and instagram in the face of challenging economic conditions. those concerns have led meta and other tech giants to embark on a cost cutting campaign that has so far resulted in 150,000 lay offs across the sector. earlier i spoke to the founder of the tech advisory firm constellation research and it told me that meta has managed told me that meta has managed to keep eyeballs on its platforms and advertisers know that. , , ., ., that. they showed the digital at winter is that. they showed the digital at winter is falling that. they showed the digital at winter is falling and - that. they showed the digital at winter is falling and that l at winter is falling and that is important piece. what you mentioned earlier was important, advertisers are flocking to the big platforms. if you don t have the
this confirms the view that digital advertisers are betting on well established platforms, such as facebook and instagram, in the face of challenging economic conditions. those concerns have led meta and other tech giants to embark on a cost cutting campaign that has so far resulted in 150,000 lay offs across the sector. earlier i spoke with ray wang, the founder of the tech advisory firm constellation research and he told me that meta has managed to keep eyeballs on its platforms and advertisers know that. yeah, they showed the digital ad winter is thawing and that is a really important piece. what you mentioned earlier was important, advertisers are flocking to the big platforms. if you don t have the users and the eyeballs, they are not going to be there and what meta showed was that they were able to keep their monthly active users still at 2.99 billion, almost 3 billion, intact, and were able to drive sales up 3% and give a queue to guidance that was much higher between
that was much higher between the 29.5 billion to 32 billion range. and that is coming on the heels of 20,000 job cuts and this year of efficiency that mark zuckerberg has hushered in. so is that what has led to the brighter outlook, has just been about cost cutting, efficiency and therefore better profits? that s one part of the story. i think the other part of the story is the fact that wheels are starting to take hold. that will require some investment and it is coming from thejob cuts but more importantly the bulk of the job cuts are being used to pay for the metaverse aspect of meta, and that will require a tonne of cutbacks over the next two to three years, that is why the job cuts were put into place. so this bet on the metaverse, do you think that is likely to yield strong results, or the kind of future that mark zuckerberg is hoping facebook and meta will move into? it s one part of the strategy. the other part is really getting more monetization capabilities within facebook,
was much higher. and that is coming on the heels of 20,000 job cuts and this year of efficiency that mark zuckerberg should end. 50 efficiency that mark zuckerberg should end- efficiency that mark zuckerberg should end. so is that what has led to the should end. so is that what has led to the brighter should end. so is that what has led to the brighter outlook, - led to the brighter outlook, has just been about cost cutting efficiency and therefore better profits? that s one part of the story first of the other part of the story is the fact that wheels are starting to take hold. that will require some investment and it is coming from thejob cuts but more importantly the bulk of the job cuts are being used to pay for the metaverse aspect of meta, and that will require a tonne of cutbacks over the next two to three years, that is why the job cuts were put into place. so years, that is why the “ob cuts were put into place. were put into place. so this bet the metaverse, - were put