Despite this, Revenues managed to exceed market expectations, standing at US$27.71 billionalmost US$300 million higher than expected, but with an annual drop of 4%.
In addition, the company showed a revenue forecast lower than projected. The company indicated that the minimum of its goal will be US$30,000 million, an amount below the US$32,200 million calculated by the market, already discounting the slowdown during the year.
Mark Zuckerberg, co-founder of Meta, quoted in a statement, acknowledged that The company faces “short-term revenue challenges” but said the firm’s fundamentals are “in place to return to stronger growth.”
The company indicated that the number of employees in the world (87,000 people as of September 30) would not change between now and the end of next year.
A year ago, Facebook became Meta and projected a glorious future of the metaverse, a parallel universe heralded as the future of the internet.
Like Google (Alphabet), Meta suffers from inflation and rising interest rates, leading many advertisers to lower their marketing budget.
Source: Ambito
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