Growth in daily active users continued to steadily slow during the quarter, increasing 8.8% year over year to 432 million. Results were particularly disappointing relative to the solid digital advertising demand giants Meta Platforms and Alphabet have generally seen.
Total revenue increased 16% from last year to $1.2 billion, falling just below the midpoint of management's forecast range. Ad impressions increased 13% year over year while ad prices were down 3%, with weakness in brand advertising. The operating loss narrowed to $254 million from $404 million a year ago.
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