Earthquake in Meta history. The California-based group is facing a decline in revenue for the first time since its 2012 IPO. Its quarterly revenue of $28.8 billion decreased by 1% compared to last year. The decline is more pronounced in the American market (-4%) and especially in Europe (-12%), which was affected by the increase in the dollar exchange rate against the euro and the decline in daily Facebook users (-4 million). This situation, to put it mildly, is exceptional for a group that is used to dizzying double-digit growth. Its net profit of $6.6 billion was reduced by 35%.
“It looks like we’ve entered an economic downturn that will have a major impact on the digital advertising industry. CEO Mark Zuckerberg admitted after the publication of the results. It is always difficult to predict the depth or duration of these cycles, but I would say that the situation seems to be…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.