Facebook parent company’s revenue was 4% less than the same period last year as it struggles to compete with TikTok
Shares in Meta dropped on Wednesday after the company announced mixed results in its third quarter earnings report, beating analyst predictions for revenue but offering a weak forecast for the upcoming quarter.
The Facebook parent company posted $27.7bn in revenue for the third quarter, higher than the $27.4bn predicted but 4% less than the same period last year. Its earnings per share, which accounts for expenses, was $1.64 – lower than the $1.89 predicted.
