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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. for more on meta s results and what they say about the state of big tech let s bring in ray wang, founder of tech advisory firm, constellation research. yeah, they showed that the digital add is fine, yeah, they showed that the digitaladd is fine, and i think that s a really important piece. and what you mentioned earlier is 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. they were able to keep their monthly active users still at 2.99 billion, almost at 3 billion intact, and they were able to drive sales up 3% and give guidance that was much higher in between the 29.5 billion to 32 billion range. and that is coming on the heels ....
Ray wong speaking to me a little earlier. another tech giant that will be reporting financial results later today is samsung. the south korean company shared its guidance recently estimating an operating profit of around 419 million dollars. the drag on earnings would likely be from the fall in prices for memory chips. but the conglomerate also has a smartphone division that looks dominant. itjust recently edged out rival apple in terms of market share. for a closer look at the state of the smartphone industry, and the competition there, sanyam chaurasia of canalys joins us now. samsung has a stable area in terms of global shipments. however, the brand, the premium segment, especially from apple, apple has got a 66% share in the market. and what is noteworthy is that the gap between apple and samsung is also global and narrow the last ....