Posted on 10/26/2022 2:36:00 PM PDT by dennisw
Facebook parent Meta on Wednesday reported that its revenue declined for a second consecutive quarter, hurt by falling advertising revenue amid competition from the wildly popular video app TikTok.
Meta’s disappointing results followed weak earnings reports from Google parent Alphabet and Microsoft this week.
Mark Zuckerberg’s Meta earned $4.4 billion, or $1.64 per share, in the three month period that ended Sept. 30. That’s down 52% from, $9.19 billion, or $3.22 per share, in the same period a year earlier.
Revenue fell 4% to $27.71 billion from $29.01 billion.
Analysts were expecting earnings of $1.90 per share on revenue of $27.4 billion in the latest quarter, according to FactSet.
Meta’s stock tumbled 11% in after-hours trading.
(Excerpt) Read more at nypost.com ...
Hard to sell advertising when the advertisers know that many of their “followers” are bots.
Yup. Bots don’t buy soap.
I don’t understand why people prefer TikTok to Instagram.
I’m ancient and have no social media.
Say hello to MySpace.
Mark Zuckerberg will post for sale sign soon the sooner the better for all.
Never trust a rat in a tee shirt.
Meta Zucks!
I make it a point to tell Facebook advertisers shown on my FB page that I refuse to buy from FB advertisers.
In fact its one of the few reasons I go there, after cancelling my main account.
My backup account is just where actual friends and family share messages.
Zucky’s fortunes are going down, while Musk is looking up, as he walked into twitter today. He looked healthy and minus 20lbs of pasty while flab. IOW Musk learns from criticism.
I have some Alphabet stock but it has declined since I bought it last year. This not so good earnings report will drag it down more. I may sell before 12/31 to capture a loss.
https://freerepublic.com/focus/f-news/4103733/posts
https://freerepublic.com/focus/f-news/4103721/posts
The good news just keeps coming.
Great gifs thanks. Short these Meta/faced bastards! Zucky’s metaverse of wearing AI glasses, to participate in imaginary worlds, is flaming out. Zuck bet bilions on this being the next big thing.
Smoke and mirrors
FB’s one and only saving grace is that its easier to find that old classmate you knew in 4th grade that you were curious about than the newer sites and even this functionality they’ve intentionally crippled over the years. Everything else about it is a waste of time.
b-but I followed every order!
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