Meta Platforms, Inc. (META) Q4 2022 Earnings Call Transcript

Meta Platforms, Inc. (NASDAQ:META) Q4 2022 Earnings Conference Call February 1, 2023 5:00 PM ET

Company Participants

Deborah Crawford - Vice President, Investor Relations

Mark Zuckerberg - Chief Executive Officer

Susan Li - Chief Financial Officer

Javier Olivan - Chief Operating Officer

Conference Call Participants

Brian Nowak - Morgan Stanley

Eric Sheridan - Goldman Sachs

Mark Shmulik - Bernstein

Doug Anmuth - JPMorgan

Justin Post - Bank of America

Youssef Squali - Truist

Ron Josey - Citi

John Blackledge - Cowen

Mark Mahaney - Evercore ISI

Brent Thill - Jefferies

Operator

Good afternoon. My name is Dave and I will be your conference operator today. At this time, I would like to welcome everyone to the Meta Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] This call will be recorded. Thank you very much. Ms. Deborah Crawford, Meta’s Vice President of Investor Relations, you may begin.

Deborah Crawford

Thank you. Good afternoon and welcome to Meta Platform’s fourth quarter 2022 earnings conference call. Joining me today to discuss our results are Mark Zuckerberg, CEO; and Susan Li, CFO. Javier Olivan, COO, is also on the call and will join Mark and Susan for the Q&A portion.

Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in today’s press release and in our quarterly report on Form 10-Q filed with the SEC. Any forward-looking statements that we make on this call are based on assumptions as of today and we undertake no obligation to update these statements as a result of new information or future events.

During this call, we may present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today’s earnings press release. The press release and an accompanying investor presentation are available on our website at investor.fb.com.

And now, I’d like to turn the call over to Mark.

Mark Zuckerberg

Alright. Hey, everyone and thanks for joining us today. 2022 is a challenging year, but I think we ended it having made good progress on our main priorities and setting ourselves up to deliver better results this year as long as we keep pushing on efficiency. And I said last quarter that I thought our product trends look better than most of the commentary out there suggests. And I think that’s even more the case now. We reached more than 3.7 billion people monthly across our Family of Apps. On Facebook, we now reached 2 billion daily actives and almost 3 billion monthly. The number of people daily using Facebook, Instagram and WhatsApp is the highest it’s ever been.