Facebook's parent company reports a drop in revenue for the first time ever

Enlarge this image

Facebook parent Meta’s results are the latest sign of a protracted slowdown in the digital ad market. Noah Berger/AFP via Getty Images

Noah Berger/AFP via Getty Images

Facebook parent Meta was hit with a double whammy in the last three months: revenue fell for the first time ever and profit shrank for the third straight quarter, amid growing competition from TikTok and nervousness from advertisers.

“We seem to have entered an economic downturn that will have a broad impact on the digital advertising business,”

→ Continue reading at NPR - Technology

More from author

Related posts

Advertisment

Latest posts

The Tantalizing Mystery of the Solar System’s Hidden Oceans

The original version of this story appeared in Quanta Magazine.For most of humankind’s existence, Earth was the only known ocean-draped world, seemingly unlike any...

The Role of Scholarships and Grants in Financing Education

Applying for scholarships and grants helps students pay for college. In some situations, these awards allow people to obtain a degree they wouldn't be...

EV, hybrid and gas-powered: Some interesting cars coming in 2024 | CNN Business

CNN  —  Next year will see the introduction of some new, genuinely affordable electric vehicles as well as...