Meta Says Data Price Hikes Limited Facebook User Growth in India

Increase in information charges in India restricted the person progress of Meta (previously Facebook) within the December 2021 quarter, the social media main mentioned. Telecom corporations Bharti Airtel, Vodafone Idea and Reliance Jio had elevated their cell service charges within the vary of 18 to 25 p.c within the December quarter. The revenue of Meta declined by 8 p.c to $10.28 billion (roughly Rs. 76,800 crore) within the December 2021 quarter, from $11.21 billion (roughly Rs. 83,800 crore) in the identical interval a 12 months in the past.

“Facebook user growth was impacted by a few headwinds in the fourth quarter. In Asia-Pacific and Rest of World, we believe Covid resurgences during prior periods pulled forward user growth. User growth in India was also limited by an increase in data package pricing.

“In addition to those components, we imagine aggressive companies are negatively impacting progress, significantly with youthful audiences,” Meta’s Chief Financial Officer Dave Wehner mentioned throughout an earnings name.

Its month-to-month lively customers (MAUs), nevertheless, grew 4 p.c on an annual foundation to 2.91 billion, whereas day by day lively customers (DAUs) elevated 5 p.c to 1.93 billion, as of December 31, 2021.

For its household of apps, which incorporates Facebook, Instagram, Messenger, and WhatsApp, month-to-month lively individuals base elevated by 9 p.c year-on-year to three.59 billion and day by day lively individuals base rose 8 p.c on a mean to 2.82 billion.

The complete income of Meta jumped by 20 p.c to $33.67 billion (roughly Rs. 2,51,600 crore) through the quarter, from $28 billion (roughly Rs. 2,09,200 crore) in the identical interval of 2020.

For the 12 months ended December 31, Meta’s internet revenue elevated by 35 p.c to $39.37 billion (roughly Rs. 2,94,300), in comparison with $29.15 billion (roughly Rs. 2,17,800 crore) in 2020.

Total income climbed 37 p.c to $117.92 billion (roughly Rs. 8,81,200 crore) for the 12 months 2021 from $85.96 (roughly Rs. 6,49,900 crore) billion in 2020.