Wall Street

Facebook parent firm Meta posts drop in revenue for first time

Published by
DPA

Facebook parent company Meta posted a revenue decline for the first time on Wednesday in its latest quarterly report. It marks the end of an era for Facebook, which has consistently reported rises since its IPO in 2012. Its projections for the coming months didn’t show any sign of improvement, and Facebook founder Mark Zuckerberg said the firm planned to focus on the long-term view. Meta’s revenue dropped in the second quarter by around 1% to $28.8 billion dollars. Profits declined by 27% to around $6.7 billion. Chief operating officer Sheryl Sandberg said the strength of the US dollar provide…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street