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Get marketing news you’ll actually want to read<\/h5>\n
Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides.<\/p>\n<\/div>\n<\/div>\n
The ad rebound appears to be real.<\/p>\n
Yesterday, Meta reported record-breaking revenue in Q3, bringing in more than $34 billion, up more than 23% year over year. That\u2019s the most it\u2019s ever made in a quarter since going public.<\/p>\n
Ad impressions delivered across Meta\u2019s suite of apps grew 31% year over year, and the average price of an ad went down 6%. The company expects to bring in between $36.5 and $40 billion next quarter.<\/p>\n
Meta\u2019s earnings are in line with other tech companies that saw gains this quarter: Google, that other<\/em> advertising giant, had similarly good news, announcing this week that it too saw double-digital revenue growth. Similarly, Snap reported a 5% revenue uptick year over year following two quarters of declines.<\/p>\nThe growth signals that the digital ad market is starting to pick up following a year of economic uncertainty that caused some marketers to cut back on spending. Meta is seeing \u201ccontinued strong advertiser demand in key segments,\u201d CFO Susan Li said during the company\u2019s earnings call.<\/p>\n
Still, Li cautioned that the company has seen \u201cmore volatility\u201d and \u201csofter ad spend\u201d at the start of Q4, when asked by an analyst whether \u201cunfortunate geopolitical activity\u201d is impacting the company\u2019s advertising business.<\/p>\n
\u201cIt\u2019s hard for us to attribute demand softness directly to any specific geopolitical event. Historically, we have seen broader demand softness follow other regional conflicts in the past such as in the Ukraine war. So this is something that we\u2019re continuing to monitor,\u201d she said.<\/p>\n
Snap also noted that \u201ca large number\u201d of advertisers had paused campaigns on its platforms since the start of the Israel-Hamas war. \u201cWhile some of these campaigns have now resumed, and the impact on our revenue has partially diminished, we continue to observe new pauses and the risk that these pauses could persist or increase in magnitude remains,\u201d the company wrote in its earnings report.<\/p>\n
Like Google, Meta has recently rolled out a slew of AI products that marketers can use to create and target their ads, like generative AI text and image tools. Li said the company expects its investments in the \u201cad creation experience\u2026 will help improve our advertising performance, will help advertisers drive sales.\u201d<\/p>\n
Meta CEO Mark Zuckerberg said that Threads, the company\u2019s Twitter imitation, had nearly 100 million monthly active users, with the goal of a billion users \u201cif we keep at this for a few more years.\u201d<\/p>\n
Earlier this week, dozens of states sued Meta, claiming the company has harmed children by making platforms like Facebook and Instagram addictive. It was not mentioned during the earnings call.<\/p>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Get marketing news you’ll actually want to read Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides. The ad rebound appears to be real. Yesterday, Meta reported record-breaking revenue in Q3, bringing in more than $34 billion, […]<\/p>\n","protected":false},"author":1,"featured_media":18888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-18887","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"\n
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