Meta posts first-ever quarterly revenue decline

[Hanno Labuschagne]

Meta posts first-ever quarterly revenue decline

Meta Platforms Inc., the social media giant that includes Facebook and Instagram, reported its first-ever quarterly sales decline, citing advertisers’ shrinking budgets.

Meta revenue slipped to $28.8 billion in the second quarter, missing the $28.9 billion average analyst estimate. The company’s forecast for the current period also fell short. Shares dropped more than 4% in late trading.

[Bloomberg]

 

[hyperian]

As one of the world's richest people, he hardly looks the picture of health.

 

[Thor]

Well... Facebook is trying to be TikTok.

The platform has become unenjoyable for regular users.

 

[Okty]

Meta is undergoing a period of immense change, with Zuckerberg trying to rally his employees to work more diligently to retain users, attract young people and prevent a migration to ByteDance Ltd.’s popular TikTok app.

This has been their biggest problem for awhile now, especially with regards to facebook, which can now be seen almost like an "IBM".

 

[konfab]

As one of the world's richest people, he hardly looks the picture of health.

Be kind. He hasn't shed his skin in a while.

 

[saor]

As one of the world's richest people, he hardly looks the picture of health.

Because being that wealthy (aka managing a company that big) doesn't come with stress?

 

[Mekon]

Let's hope they stumble some more until they fall flat on their face.

 

[Danie_V]

I migrated a good two years back to PixelFed which reminds me far more of the original Instagram, but is decentralised. Facebook has really killed Instagram off by trying to make it everything else, apart from being what Instagram was originally about. Time we moved to decentralised networks where one cannot just become a walled garden.

 

[hyperian]

Because being that wealthy (aka managing a company that big) doesn't come with stress?

It is certainly stressful, but he looks particularly pasty.

 

[airborne]

Is Facebook just one long continuous staged video meme, no matter where you start that’s where you end up, some fake prank or other bs fake video. And it’ll have 16k comments and even more likes… maybe it’s just that Facebook exposes you to the real world which is legions upon legions of absolute idiots. Maybe it isn’t soo bad, just a reflection of mankind but it certainly does amplify the more troubling aspects of our species.