Meta reported Q4 and full year 2022 revenue of $32.17 billion and $116.61 billion, a decrease of 4% and 1% year-over-year for the fourth quarter and full year 2022, respectively. Q4 net income was $4.652 billion, down 55% compared to a year earlier.
Capital expenditures, including principal payments on finance leases, were $9.2 billion, driven by investments in servers, data centers, and network infrastructure.
For 2023, Meta expects capital expenditures to be in the range of $30-33 billion, lowered from a prior estimate of $34-37 billion. The reduced outlook reflects updated plans for lower data center construction spend in 2023 as we shift to a new data center architecture that is more cost efficient and can support both AI and non-AI workloads. Substantially all of the capital expenditures continue to support all of the company’s apps.
In the quarterly investor conference call, Mark Zuckerberg stated “Before getting into our product priorities, I want to discuss my management theme for 2023, which is the “year of efficiency”. We closed last year with some difficult layoffs and restructuring some teams. When we did this, I said clearly that this was the beginning of our focus on efficiency and not the end. Since then, we’ve taken some additional steps like working with our infrastructure team on how to deliver our roadmap while spending less on capex.”
Some additional metrics:
- Family daily active people (DAP) – DAP was 2.96 billion on average for December 2022, an increase of 5% year-over-year.
- Family monthly active people (MAP) – MAP was 3.74 billion as of December 31, 2022, an increase of 4% year-over-year.
- Facebook daily active users (DAUs) – DAUs were 2.00 billion on average for December 2022, an increase of 4% year-over-year.
- Facebook monthly active users (MAUs) – MAUs were 2.96 billion as of December 31, 2022, an increase of 2% year-over-year.
