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Updated: Jul 29, 2022, 12:20 AM IST

Facebook Parent company Meta posts first revenue drop in history; Know why

The company's revenue in the second quarter fell by 1% to $28.8 billion (€28.3 billion), which was also below Wall Street projections. The company cited a fall in advertising revenue, thanks to recession fears, a strong US dollar and increased competition as the reasons behind the drop.

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The company's revenue in the second quarter fell by 1% to $28.8 billion (€28.3 billion), which was also below Wall Street projections. The company cited a fall in advertising revenue, thanks to recession fears, a strong US dollar and increased competition as the reasons behind the drop.

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