The division has been making major losses for the second year in a row, with losses reaching $10.2 billion in 2021 and the company in losses on a backdrop of falling revenue. And that’s a steady trend: In 2021, the company earned $2.3 billion in the first quarter of 2022 – $695 million in the second – $452 million. Analysts expect revenue to fall further in the third quarter.
By comparison, Meta lost $2.96 in the first quarter of 2022 and $2.3 billion in the second quarter. Against the background of $10.2 billion in 2021, losses in 2022 could be even greater.
Meta shares fell sharply by 4% after the release of the financial report.
* the organization is considered extremist, its activities are banned on the territory of Russia
Source: Ferra
