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Meta turns to Reels and the metaverse to recover from its first ever revenue loss

28/07/2022

For the first time ever since going public in 2007, Meta (aka Facebook) reported a decline in quarterly revenue year over year. The company’s revenue was $28.82 billion — a 1% decrease from $29.07 billion in the second quarter of 2021. What’s worse, it forecasts that growth in the third quarter could fall even...
For the first time ever since going public in 2007, Meta (aka Facebook) reported a decline in quarterly revenue year over year. The company’s revenue was $28.82 — a 1% decrease from $29.07 in the second of 2021. What’s worse, it forecasts that growth in the third could fall even more, in the range of $26-28.5 billion. Who’s to blame? Meta attributes this to “the continuation of the weak advertising demand environment” they experienced throughout the second quarter, which they believe “is being driven by the broader macroeconomic uncertainty.” In a Facebook post, Mark Zuckerberg also…This story continues at The Next Web
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