Meta Q1 2022 total revenue up 7% at $27,908 mn; reports 2.94 bn MAUs

“We made progress this quarter across a number of key company priorities and we remain confident in the long-term opportunities and growth that our product roadmap will unlock,” said Mark Zuckerberg, Founder and CEO, Meta, while commenting on the Q1 2022 financial results. “More people use our services today than ever before, and I am proud of how our products are serving people around the world,” he added.

Meta reported a 7% growth in its Q1 2022 total revenue to reach $27,908 million from $26,171 million in Q1 of 2021. However, net income fell by 21% to $7,465 million in Q1 2022, compared to $9,497 million in Q1 2021.

In the first quarter of 2022, ad impressions delivered across Meta’s family of apps increased by 15% year-over-year, while the average price per ad decreased by 8% year[1]over-year.

Facebook’s monthly active users (MAUs) were reported at 2.94 billion as of March 31, 2022, an increase of 3% year-over-year Daily active users (DAUs) stood at 1.96 billion on average for March 2022, an increase of 4% year-over-year.

Meta expects Q2 2022 total revenue to be in the range of $28-30 billion, reflecting a continuation of the trends impacting revenue growth in the first quarter, including softness in the back half of the first quarter that coincided with the war in Ukraine. The guidance assumes foreign currency will be approximately a 3% headwind to year-over-year growth in the second quarter, based on current exchange rates.