Meta Platforms, Inc. (META) Q3 2022 Earnings Call Transcript

Meta Platforms, Inc. (NASDAQ:META) Q3 2022 Earnings Conference Call October 26, 2022 5:00 PM ET

Company Participants

Deborah Crawford - Vice President, Investor Relations

Mark Zuckerberg - Chief Executive Officer

Dave Wehner - Chief Financial Officer

Susan Li - Vice President, Finance and Incoming Chief Financial Officer

Marne Levine - Chief Business Officer

Conference Call Participants

Brian Nowak - Morgan Stanley

Mark Shmulik - Bernstein

Justin Post - Bank of America

Doug Anmuth - JPMorgan

Eric Sheridan - Goldman Sachs

Youssef Squali - Truist

Mark Mahaney - Evercore ISI

Brent Thill - Jefferies

Operator

Good afternoon. My name is Martin and I will be your conference operator today. At this time, I would like to welcome everyone to the Meta Third Quarter 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 Platforms third quarter 2022 earnings conference call. Joining me today to discuss our results are Mark Zuckerberg, CEO; and Dave Wehner, CFO. Susan Li, VP of Finance and our Incoming CFO and Marne Levine, Chief Business Officer, are also on the call and will join Mark and Dave 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

Hey, everyone. Thanks for joining today. Our community continued to grow this quarter. We now reach more than 3.7 billion people monthly across our Family of Apps. And while we continue to navigate some challenging dynamics of volatile macro economy, increasing competition, ad signal loss and growing costs from our long-term investments, I have to say that our product trends look better from what I see than some of the commentary I have seen suggests. There has been a bunch of speculation about engagement on our apps. And what we are seeing is more positive.