After a decade of endless upward growth, the parent company of Facebook, Instagram and WhatsApp reported its first-ever quarterly revenue drop on Wednesday (Jul 27).
Meta Platforms' total revenue fell 1 per cent to US$28.8 billion in the second quarter ending on Jun 30, from US$29.1 billion last year.
One per cent might not sound like much but this is its first such slip since the firm formerly known as just Facebook went public in 2012.
Meta expects growth in the third quarter to dip even more, and on Wednesday it also reported a 36 percent drop in profit to US$6.7 billion.
What does this mean for everyone and their uncles' favourite social media apps? Is it the beginning of the end of Mark Zuckerberg's plans for world domination?
More at https://shrtcô.de/rA5oYT
Meta Platforms' total revenue fell 1 per cent to US$28.8 billion in the second quarter ending on Jun 30, from US$29.1 billion last year.
One per cent might not sound like much but this is its first such slip since the firm formerly known as just Facebook went public in 2012.
Meta expects growth in the third quarter to dip even more, and on Wednesday it also reported a 36 percent drop in profit to US$6.7 billion.
What does this mean for everyone and their uncles' favourite social media apps? Is it the beginning of the end of Mark Zuckerberg's plans for world domination?
More at https://shrtcô.de/rA5oYT
