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

Q3 income is predicted to be $26 billion-$28.5 billion, CFO Dave Wehner mentioned in saying the outcomes — basically flat to down in contrast with $28.3 billion within the third quarter of 2021. The outlook “displays a continuation of the weak promoting demand atmosphere we skilled all through the second quarter, which we imagine is being pushed by broader macroeconomic uncertainty,” he mentioned in an announcement. Meta additionally expects Q3 income for Actuality Labs, its AR and VR division, to be decrease than second-quarter income, which got here in at $452 million (up 48% 12 months over 12 months).

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