Jump to content

Facebook Parent Meta Reports First Ever Revenue Drop


Recommended Posts

"Facebook parent Meta Platforms Inc. META 6.55% posted its first decline in revenue and issued a muted outlook as the company struggles to adjust to macroeconomic forces and 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." (The full article)

 

83367c9454f6afdd8a656dfc6f6901a5.gif

  • Like 1
Link to comment
Share on other sites

I'm not an economics expert but to my knowledge "revenue" is the ENTIRE amount of money a corporation takes in.....not just the profit.

The REVENUE may have declined but if their OVERHEAD (cost to operate the company) has also dropped significantly then they'll still come out ahead and quite possibly better than when they were receiving more overall revenue.

A lot of these corporations have slashed so much overhead that even when their overall income declines they make a killing in profits.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...