New Delhi: The increase in data rates in India limited the user growth of Meta (formerly) Facebook) in the December 2021 quarter, the social media major said.
Telecom companies Bharti Airtel, Vodafone Idea and Reliance Jio had increased their mobile service rates by 18-25 per cent in the December quarter.
Meta’s profit declined 8 per cent to $10.28 billion in the December 2021 quarter, from $11.21 billion in the same period a year ago.
,Facebook user Growth was impacted by some adverse conditions in the fourth quarter. In Asia-Pacific and the rest of the world, we believe the resurgence of COVID during the prior period drove user growth. User growth in India was also limited by the increase in data package pricing.
“In addition to these factors, we believe competing services are negatively impacting growth, especially with younger audiences,” Meta’s chief financial officer Dave Wehner said during an earnings call.
Its monthly active users (MAUs), however, grew 4 percent on an annualized basis to 2.91 billion, while daily active users (DAUs) grew 5 percent to 1.93 billion as of December 31, 2021.
For its family of apps, which includes Facebook, Instagram, Messenger, WhatsApp, etc., the number of monthly active people increased by 9 percent to 3.59 billion and the number of daily active people increased by an average of 8 percent to 2.82 billion.
Meta’s total revenue during the quarter grew 20 percent to $33.67 billion, up from $28 billion in the same period of 2020.
For the year ended December 31, Meta’s net profit rose 35 percent to $39.37 billion, compared to $29.15 billion in 2020.
Total revenue for the year 2021 grew 37 percent to $117.92 billion, from $85.96 billion in 2020.
Telecom companies Bharti Airtel, Vodafone Idea and Reliance Jio had increased their mobile service rates by 18-25 per cent in the December quarter.
Meta’s profit declined 8 per cent to $10.28 billion in the December 2021 quarter, from $11.21 billion in the same period a year ago.
,Facebook user Growth was impacted by some adverse conditions in the fourth quarter. In Asia-Pacific and the rest of the world, we believe the resurgence of COVID during the prior period drove user growth. User growth in India was also limited by the increase in data package pricing.
“In addition to these factors, we believe competing services are negatively impacting growth, especially with younger audiences,” Meta’s chief financial officer Dave Wehner said during an earnings call.
Its monthly active users (MAUs), however, grew 4 percent on an annualized basis to 2.91 billion, while daily active users (DAUs) grew 5 percent to 1.93 billion as of December 31, 2021.
For its family of apps, which includes Facebook, Instagram, Messenger, WhatsApp, etc., the number of monthly active people increased by 9 percent to 3.59 billion and the number of daily active people increased by an average of 8 percent to 2.82 billion.
Meta’s total revenue during the quarter grew 20 percent to $33.67 billion, up from $28 billion in the same period of 2020.
For the year ended December 31, Meta’s net profit rose 35 percent to $39.37 billion, compared to $29.15 billion in 2020.
Total revenue for the year 2021 grew 37 percent to $117.92 billion, from $85.96 billion in 2020.
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