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Meta Posts First-Ever Revenue Drop for Q2, Issues Weak Q3 Guidance

After years of the gross sales arrow solely pointing up, Meta — the corporate previously often called Facebook — has turned in its first quarterly income decline.

For the second quarter of 2022, Meta reported $28.82 billion on the highest line, down 1% 12 months over 12 months. Web earnings fell 36%, to $6.69 billion, or $2.46 per share. It additionally issued a weak forecast for Q3.

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Wall Avenue on common anticipated Meta to report $28.94 billion in income and earnings of $2.61 per share, in line with Refinitiv.

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