by shruti mokta

Facebook's Revenue is Dropping

Facebook's Revenue is Dropping

Formerly known as Facebook, Inc., Meta platforms are considered one of the most valuable companies in the world

Meta/Google

It is among the big five

American technology companies alongside Amazon, Apple, Microsoft, and Alphabet

Meta/Google

Meta owns Facebook, Messenger, WhatsApp, Instagram, Facebook Watch, and Meta Portal. It also acquired Giphy, Mapilary, and Oculus and has a 9.99% stake in Jio Platforms

is facebook's revenue dropping

?

The streak of steady revenue growth for Facebook has finally ended

Meta/Google

 in revenue for the second quarter

The Facebook company reported its first-ever yearly decline.

There has been a 1% drop to $28.8 billion and predictions that it could fall even more in the third quarter.

Meta/Google

The Reality Labs lost $2.8 billion in the quarter; the division is responsible for building metaverse dreams.

Meta/Google

"

Zuckerberg said, "I think we're going to come through this period as a stronger and more disciplined organization."

Facebook's daily users are growing by 3%

However,

Meta/Google