Facebook Parent Meta Reports First Ever Revenue Drop



Facebook parent Meta Platforms posted its first decline in revenue and issued a muted outlook on digital advertising as it contends with growing competition from rival TikTok.

The company reported quarterly revenue of $28.8 billion, down almost 1% from a year earlier and slightly below the $28.9 billion Wall Street was expecting. It marks the first time that the company has posted a quarterly drop in revenue from the year earlier.



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