Meta Reportedly Surpasses $2 Billion Revenue Mark in India
Meta Platforms, which owns Facebook, WhatsApp and Instagram, surpassed $2 billion in revenue in India in FY22, which has become a strategic market for the US company.
New Delhi: Meta Platforms, which owns Facebook, WhatsApp and Instagram, surpassed $2 billion in revenue in India in FY22, which has become a strategic market for the US company. Meta To Shut ‘Instant Articles’ Format on Facebook in April 2023.
The social network posted a total profit of Rs 440 crore (after tax) in the country, growing at 116 per cent (YoY) in FY22. Profit after tax was Rs 297 crore, growing at 132 per cent.
According to Meta's filings with the Registrar of Companies (RoC), it has registered gross ad revenue growth of 74 per cent (YoY). The growth comes at a time when WhatsApp has seen a significant growth in India, nearing 500 million users in the country. WhatsApp Testing Edit Messages Feature, Expected To Be Rolled Out Soon.
WhatsApp for Business has also seen a meteoric rise in the country, especially for small businesses.
(The above story first appeared on LatestLY on Oct 18, 2022 08:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).