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Thursday, October 27, 2022

Facebook parent Meta's third quarter earnings fell

 

Facebook parent Meta Q3 revenue, profit decline


Facebook parent Meta on Wednesday detailed that its income declined briefly sequential quarter, hurt by falling publicizing income in the midst of rivalry from the ridiculously famous video application TikTok.


Meta's frustrating outcomes followed frail profit reports from Google parent Letter set Inc. furthermore, Microsoft this week.


Meta procured $4.4 billion, or $1.64 per share, in the multi month time frame that finished Sept. 30. That is down 52% from, $9.19 billion, or $3.22 per share, in a similar period a year sooner.


Income fell 4% to $27.71 billion from $29.01 billion.


Examiners were expecting profit of $1.90 per share on income of $27.4 billion in the most recent quarter, as per FactSet.


Meta's stock tumbled 11% in late night exchanging.

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