Meta today released its second quarterly report for 2022, and it surprised many when Facebook reported a decline in revenue for the first time.
Facebook is already the biggest income generator under the Meta family. In the last quarter, Facebook showed a decrease of 1%.
At the same time, Meta is also targeting a bigger decline in income in the third quarter of 2022.
The slow development of the world economy now makes many people reduce advertising on Facebook. This also affects Meta's income.
In addition, Meta is also now competing with TikTok for advertising-based revenue.
Despite the decrease in revenue, in terms of user numbers, Facebook is showing improvement, and now has 1.97 billion daily users worldwide.
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BUSINESS & MONEY