Meta, the parent company of Facebook and Instagram, posted a revenue drop for the third consecutive quarter in Q4 2022, amid a pullback in ad spending and increased competition from rivals like TikTok.
However, this decline only marked a smaller drop than analysts had expected. Revenue only fell 4% to $32.2 billion from $33.7 billion. Analysts had predicted a fall to $31.55 billion.
📊 Facebook reaches 2 billion daily active users
Meta-owned social media platform, Facebook, has reached 2 billion daily users in the last quarter of 2022 even as Meta’s revenue shrunk in the year, the company confirmed in its financial report for Q4 2022. Facebook is now the second Meta-owned platform to reach 2 billion daily users after WhatsAp…
Emmanuel Oyedeji
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