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,”
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