{"id":478707,"date":"2022-07-27T23:24:23","date_gmt":"2022-07-27T20:24:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/facebooks-meta-reports-first-ever-revenue-drop\/"},"modified":"2022-07-27T23:24:23","modified_gmt":"2022-07-27T20:24:23","slug":"facebooks-meta-reports-first-ever-revenue-drop","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/facebooks-meta-reports-first-ever-revenue-drop\/","title":{"rendered":"#Facebook&#8217;s Meta reports first ever revenue drop"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28ce536d22d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28ce536d22d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/facebooks-meta-reports-first-ever-revenue-drop\/#%E2%80%9CFacebooks_Meta_reports_first_ever_revenue_drop%E2%80%9D\" >&#8220;Facebook&#8217;s Meta reports first ever revenue drop&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CFacebooks_Meta_reports_first_ever_revenue_drop%E2%80%9D\"><\/span>&#8220;Facebook&#8217;s Meta reports first ever revenue drop&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Meta\u00a0Platforms issued a gloomy forecast after recording its first ever quarterly drop in revenue on Wednesday, with a global recession looming and competitive pressures weighing on its digital ads sales.<\/p>\n<p>Shares of the Menlo Park, California-based company were down about 3.4%\u00a0in extended trading.<\/p>\n<p>The company said it expects third-quarter revenue of between $26 billion and $28.5 billion. Analysts were expecting $30.52 billion, according to IBES data from Refinitiv.<\/p>\n<p>Total revenue, which consists almost entirely of ad sales, fell 1% to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. The figure slightly missed Wall Street\u2019s projections of $28.9 billion, according to Refinitiv.<\/p>\n<p>The company reported mixed results for user growth.<\/p>\n<p>Monthly active users on flagship social network <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> came in slightly under analyst expectations at 2.93 billion in the second quarter, an increase of 1% year over year, while daily active users handily beat estimates at 1.97 billion.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-02.jpg?w=1024\" alt=\"Meta CEO Mark Zuckerberg\" class=\"wp-image-23227185\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-02.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-02.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-02.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Mark Zuckerberg\u2019s Meta has been trying to fend off a string of challenges to its business.<\/figcaption><figcaption><span class=\"credit\">WireImage<\/span><\/figcaption><\/figure>\n<p>Like many global companies,\u00a0Meta\u00a0is facing some revenue pressure from the strong dollar, as sales in foreign currencies amount to less in dollar terms.\u00a0Meta\u00a0said it expected a 6% revenue growth headwind in the third quarter, based on current exchange rates.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Still, the\u00a0Meta\u00a0results also come as fortunes in online ads sales <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to be diverging between search and social media players, with the latter impacted more severely as ad buyers reeling in spending.<\/p>\n<p>Alphabet, the world\u2019s largest digital ad platform, reported a rise in quarterly revenue on Tuesday, with sales from its biggest moneymaker \u2013 Google search \u2013 topping investor expectations.\u00a0<\/p>\n<p>Snap\u00a0and Twitter\u00a0both missed sales expectations last week and warned of an ad market slowdown in coming quarters, sparking a broad sell-off across the sector.\u00a0<\/p>\n<p>The results shed light on the unique strain\u00a0Meta\u2019s core social media business is experiencing, as it competes for users\u2019 time with short video app TikTok and adjusts its ads business to privacy controls rolled out by Apple Inc\u00a0AAPL.O\u00a0last year.<\/p>\n<p>Meta\u00a0said Reels, a short video product it is increasingly inserting into users\u2019 feeds to compete with TikTok, was now generating over $1 billion annually in revenue.<\/p>\n<p>\u201cThey are being greatly affected by everything, and I\u2019d probably give it a third, a third and a third,\u201d Bokeh Capital Partners\u2019 Kim Forrest said, referring to the economy, global ad market slowdown and competition from TikTok and Apple.<\/p>\n<p>\u201cMeta\u00a0has a problem because they\u2019re chasing TikTok and if the Kardashians are talking about how they don\u2019t like Instagram \u2026\u00a0Meta\u00a0should really pay attention to that.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-01-1.jpg?w=1024\" alt=\"Meta website\" class=\"wp-image-23227265\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-01-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-01-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-01-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Meta said total revenue, the bulk of which comes from ads, fell to $28.82 billion from $29.08 billion a year earlier.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>About 15% of content on Facebook and Instagram is recommended by AI and that percentage will double by the end of 2023, CEO Mark Zuckerberg said.<\/p>\n<p>The world\u2019s biggest social media company is simultaneously carrying out several expensive overhauls to keep that core business pumping out profits, while also investing in a longer-term bet on \u201cmetaverse\u201d hardware and software.<\/p>\n<p>For now, at least, the\u00a0metaverse part of the business remains largely theoretical. In the second quarter,\u00a0Meta\u00a0reported $218 million in non-ad revenue, which includes sales of devices like its Quest virtual reality headsets, down from $497 million last year.<\/p>\n<p>Its Reality Labs unit, which is primarily responsible for developing\u00a0metaverse-oriented <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> like the VR headsets, reported sales of $452 million, down from $695 million in the first quarter.<\/p>\n<p>Meta will release a mixed-reality headset called Project Cambria later this year focused on professionals.<\/p>\n<p>Meta\u00a0broke out the segment in its results for the first time earlier this year, when it revealed that Reality Labs had lost $10.2 billion in 2021.<\/p>\n<p>Meta\u2019s second-quarter operating profit margin fell to 29% from 43% as costs rose sharply and revenue dipped.<\/p>\n<p>In November, Chief Financial Officer David Wehner will become\u00a0Meta\u2019s first chief strategy officer. Susan Li,\u00a0Meta\u2019s current vice president of finance, will become CFO.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/07\/27\/facebooks-meta-reports-first-ever-revenue-drop\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Facebook&#8217;s Meta reports first ever revenue drop&#8221; Meta\u00a0Platforms issued a gloomy forecast after recording its first ever quarterly drop in revenue on Wednesday, with a global recession looming and competitive pressures weighing on its digital ads sales. Shares of the Menlo Park, California-based company were down about 3.4%\u00a0in extended trading. The company said it expects&#8230;<\/p>\n","protected":false},"author":1,"featured_media":478708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/meta-profits-02.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[122306,131775,70784,70237,4974,5077],"class_list":["post-478707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-meta","tag-7-27-22","tag-advertising","tag-corporate-earnings","tag-facebook","tag-mark-zuckerberg"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=478707"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/478708"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=478707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=478707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=478707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}