Meta says Q1 family daily active people fell 20M QoQ to 3.56B, vs. 3.62B est., due to internet disruptions in Iran and WhatsApp access restrictions in Russia
Meta shares fell in extended trading on Wednesday after the company reported lower-than-expected capital expenditures and missed on user growth.
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Meta Misses User Growth Targets as Iran, Russia Drag Numbers
Meta's daily active users dropped 20M quarter-over-quarter, landing well below estimates at 3.56 billion.
Meta whiffed on Q1 user growth. The company reported 3.56 billion family daily active people — down 20 million from the previous quarter and short of the 3.62 billion analysts expected.
The culprit? Internet disruptions in Iran and restrictions on WhatsApp access in Russia. Geopolitics, meet engagement metrics.
The miss wasn't the only sore spot. Meta also reported lower-than-expected capital expenditures, compounding investor concerns. Shares dropped in extended trading Wednesday.
For a company that measures its audience in billions, a 20 million user dip might sound like a rounding error. But missing estimates by 60 million is harder to shrug off. When entire countries start going dark on your platforms, even Meta's massive scale can't fully absorb the hit.