Meta's Q3 Revenue Was $51.242b, with Net Profit Down 83% Year-on-Year
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Meta's Q3 revenue was $51.242B, but net profit plummeted 83% year-on-year, sparking concerns about the company's financial health and future prospects.
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Once you view Meta as an advertising company, it's no different to how you would feel about google or any other advertising company you engage in. If you pay for access, you are still being sold on as eyeballs for ads, and your revenue as a paying user is not the primary revenue channel they care about: the content providers who pay for placement, are their customers and you are why the customers want to give Meta (and google) that money.
No wonder they keep wanting more data for targeted ads.
I've heard it said that Meta is the best platform for targeted ads. That's it an Ad factory. I don't know if it's true, but considering the amount of data they collect, it might be true.