🚀 Medial just raised $500k in Pre-Series A. Tap to read the announcement. 🎉
Login

News on Medial

Facebook-owner Meta’s India ad sales up 24% to $2.7 bn | The Arc

The Arc WebThe Arc Web · 1m
Facebook-owner Meta’s India ad sales up 24% to $2.7 bn | The Arc

In FY24, Facebook India Online Services, a subsidiary of Meta, saw a 25% increase in gross advertising revenue, reaching Rs 22,730 crore ($2.7 billion). The operating revenue rose to Rs 3,035 crore ($361 million), with a 37% growth in profit before tax at Rs 714 crore ($85 million) and a 43% rise in profit after tax at Rs 505 crore ($60 million). Employee benefit expenses grew by 8% to Rs 476.2 crore, and cash reserves increased by 36% to Rs 2,265 crore. After terminating a reseller agreement in July 2022, Facebook India now operates under an "operating license agreement" with Meta USA, allowing it to commercialize Meta’s IP in India. Revenue is generated from both impression- and action-based ads, and Facebook India compensates Meta USA with royalties for IP use and infrastructure maintenance fees.

6
1
4
View Source

Comments

Havish Gupta
Havish GuptaFiguring Out....

Expected it to be much lot. Ig Google is leading ads in India

Reply
0
1 month ago

More Like this

Amazon India cuts loss by 28%, advertising biz grows 24% | The Arc

Amazon India cuts loss by 28%, advertising biz grows 24% | The Arc

Meta’s News Block Causes Chaos as Canada Burns

Meta’s News Block Causes Chaos as Canada Burns

Meta’s AI push needs to efficiently deliver a lot more ad growth

Meta’s AI push needs to efficiently deliver a lot more ad growth

Meta India’s gross ad revenue swells 13% to Rs 18,300 crore in FY23

Meta India’s gross ad revenue swells 13% to Rs 18,300 crore in FY23

Apple’s India Sales Touch Nearly $8 Bn Mark As iPhones Demand Soar

Apple’s India Sales Touch Nearly $8 Bn Mark As iPhones Demand Soar

Meta's 'consent or pay' data grab in EU faces fresh charges of privacy coercion

Meta's 'consent or pay' data grab in EU faces fresh charges of privacy coercion

Myntra clocked $3.9-bn in gross sales in 2023 | The Arc

Myntra clocked $3.9-bn in gross sales in 2023 | The Arc

Bits & Bytes: Meta’s oversight board seeks public comments on hate speech moderation

Bits & Bytes: Meta’s oversight board seeks public comments on hate speech moderation

Netflix India FY23 revenue jumps 24%; profit soars 75%

Netflix India FY23 revenue jumps 24%; profit soars 75%

Meta targeted in privacy complaints by 8 EU consumer groups

Meta targeted in privacy complaints by 8 EU consumer groups

Download the medial app to read full posts, comements and news.