News

Numbers are in – Facebook owner’s gloomy future forecast

Published

2 years ago

July 28, 2022

As fears of a global recession grow, Meta has recorded its first-ever quarterly drop, and has issued a gloomy future forecast

Shares in the company fell around 1-point-4 per cent in extended trading, as execs predict a third-quarter revenue of between 26 and $28.5 billion.

This is far short of the 30 billion analysts were hoping for.

Meta’s entire business model centres around ad sales, which fell fell 1 per cent in this increasingly competitive commercial market.

Monthly active users on he company’s flagship platform, Facebook also came in slightly under analyst expectations at 2-point-9 billion.

Meanwhile, Alphabet reported a rise in quarterly revenue on Tuesday… with sales from Google topping investor expectations.

Snap and Twitter both fell short.

Related Topics:Facebook Politics trending

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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