Facebook Profits, Wants to Recruit More Employees After Gede-Gedan Tech Layoffs – 18 hours ago

Jakarta, CNBC Indonesia – Meta (Facebook, Instagram, WhatsApp) reported positive performance in Q3-2023. Revenue rose 23% year-on-year (YoY) to US$ 34.15 billion or Rp. 542 trillion.

This achievement exceeded analysts’ expectations, which previously set US$ 33.56 billion, according to LSEG data. Meta’s operating margin also jumped 40% in the quarter.

Meta’s daily active users (DAU) grew 7%. The company uses metrics that combine unique users for each platform in the Meta ecosystem.

Apart from that, impressions for advertisements on the Meta platform also grew significantly by 31% in the last three months, quoted from Reuters, Thursday (26/10/2023).

Even so, Facebook predicts that the company’s expenses will increase in 2024. This is because the company plans to actively recruit until next year.

This follows the company’s ambition to develop artificial intelligence (AI) technology. Meta has started to rapidly invest in building AI infrastructure. Going forward, Meta’s priority is to recruit AI-focused talent.

Apart from that, Meta also anticipates sales will decline in Q4 2023, due to the conflict occurring in the Middle East between the Hamas group and Israel.

Last February, Meta CEO Mark Zuckerberg announced that the company would undertake a ‘year of efficiency’. One of them was by carrying out massive layoffs which affected 21,000 employees.

However, next year it looks like Facebook will start to ‘loose’ again. The company will focus on engineering talent to support AI development. All non-AI projects will be postponed first.

In September 2023, Meta CFO Susan Li revealed Meta’s plans to end 2023 with more qualified employees.

[Gambas:Video CNBC]

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