dead Handing over numbers for the second quarter of the year After closing time on Wednesday evening.
The company’s sales were $28.82 billion, down 1% from the same period last year. Analysts previously expected revenue of $28.94 billion, according to Bloomberg Terminal.
This is the company’s first quarter without revenue growth.
“Despite today’s challenges, I’m very confident in the long term. Advertisers will go where they get the highest return on investment and the ability to run their business. According to CNBC, we believe we will continue to perform very positively,” said Sheryl Sandberg, COO of Meta. Compared to other advertising options.
Facebook’s monthly active users ended the quarter at 2.93 billion, up 1% from a year ago, while daily active users increased 3% to 1.97 billion.
Ad views increased 15 percent from a year ago, while the average price per ad is down 14 percent.
“Sharing on Facebook in general has been stronger than we expected, and powerful rollersGrowth continues to drive engagement across Facebook and Instagram, Zuckerberg said in a conference call with analysts, according to CNBC.
The result per share closed at $2.46, down 32 percent from a year ago. Up front, $2.54 was expected.
At the time of writing, the stock is down 4 percent in aftermarket trading.
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