Facebook parent Meta posts first revenue decline in history
Headline from Waco Tribune-Herald
Facebook and Instagram’s parent company Meta posted its first revenue decline in history Thursday, dragged by a drop in ad spending as the economy falters — and as competition from
Waco Tribune-Herald's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Facebook and Instagram’s parent company Meta posted its first revenue decline in history Thursday, dragged by a drop in ad spending as the economy falters — and as competition from
Meta's quarterly earnings are another sign of a protracted slowdown in the digital ad market. Soaring inflation, interest rate hikes and other economic woes are making advertisers cautious.
Facebook-parent Meta on Wednesday reported that its quarterly revenue dropped year-over-year for the first time ever, as its profit plunged by more than a
Meta, which owns Facebook, Instagram and WhatsApp, among others, is facing several economic constraints. Mark Zuckerberg said he will "get more done with fewer resources."
Meta reports 36 percent drop in profit to $6.7 billion over last year's $10.39 billion; Zuckerberg says he expects company to 'get more done with fewer resources'
Facebook-parent Meta reported on Wednesday its first quarterly revenue drop and a plunging profit as the social media powerhouse battles a turbulent economy and the rising phenomenon of TikTok.
By Clare Duffy, CNN Business Facebook is in decline. Meta, Facebook’s parent company, reported revenue of $28.8 billion for the three months ending in June, a 1% drop from the prior-year quarter and its first year-over-year revenue decline since going public in 2012.
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Facebook parent Meta posts first revenue decline in history | Since Then
