Facebook reports first ever revenue decline…

  • Meta missed on the top and bottom lines and gave a troubling forecast for the third quarter.
  • The shares have lost about half their value this year as marketers pull back on ad spending.
  • The company said its guidance reflects “continuation of the weak advertising demand environment.”

Facebook parent Meta reported a steeper-than-expected drop in revenue, missed on earnings and issued a surprisingly weak forecast, pointing to a second consecutive decline in year-over-year sales. The shares dropped 3.8% in extended trading.

Here’s how the company did:

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  • Earnings: $2.46 per share vs. $2.59 per share expected, according to Refinitiv
  • Revenue: $28.82 billion vs. $28.94 billion expected, according to Refinitiv
  • Daily Active Users (DAUs): 1.97 billion vs 1.96 billion expected, according to StreetAccount
  • Monthly Active Users (MAUs): 2.93 vs 2.94 billion expected, according to StreetAccount
  • Average Revenue per User (ARPU): $9.82 vs. $9.83 expected, according to StreetAccount



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