Meta reported revenue growth of 22% from a year earlier to $39.07 billion, with 98% of its sales coming from advertising, primarily on Facebook and Instagram.
Its growth rate was double that of Google's ad business, which saw sales increase 11% to $64.6 billion, Alphabet said in its earnings report last week.
Meanwhile, Pinterest and Spotify , which are both significantly smaller than Meta, reported revenue growth of 21% and 20%, respectively, in their latest reports.
As in previous quarters, Li said Meta's advertising business benefited from online commerce, gaming and the media and entertainment sectors, and that ad growth continued to be strongest in the Asia-Pacific region.
She said the company's "improved ad performance" helped lift overall ad prices despite slowing growth in that region.
Persons:
Mark Zuckerberg, Emily Chang, Zuckerberg, Susan Li, Li
Organizations:
Meta, Inc, Facebook, Spotify, Apple
Locations:
Menlo Park , California, Asia, Pacific