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    TechnologyFacebook suffers a drop in revenue for the first time in its...

    Facebook suffers a drop in revenue for the first time in its history

    A Goal the accounts still do not come out. The company, formerly known as Facebookhas announced the first drop in revenue in its history, approximately 1% compared to the figures for the previous year, remaining in the 28,822 million dollars during the second quarter of 2022. The figure is also somewhat below Wall Street forecasts, which pointed to 28.9 billion. The company does not expect these numbers to improve in the short term, as announced.

    “It appears that we have entered an economic recession that will have a broad impact on the digital advertising business,” said Mark Zuckerberg, CEO of Meta, in a call with investors, according to ‘The Wall Street Journal’. “It is always difficult to predict how deep or long these cycles will be, but I would say that the situation looks worse than it did a quarter ago,” the Facebook father remarked.

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    In recent weeks, Meta has warned its workers of the arrival of changes in the work culture, which means that employees are willing to work more with fewer resources, both human and financial. The objective is limit the effects of the slowdown in the advertising business; the most important by far that the company has.

    Apple-driven privacy innovations, which prevent social networks like Facebook and Instagram from collecting as much data as in the past, have cost the tech company nearly $10 billion over the past year. More or less, the equivalent of what Meta has invested in the construction of this new virtual world called metaverse, which is still a loss pit. Only during the second quarter of the year, of 2,800 million. Added to this is a drastic reduction in the total benefits of Meta, which are down 36% compared to 2021 to stay at 6,700 million.

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    The fall of the advertising business is evident in the report shared by the technology company. Meta’s average price per ad fell 14% in the quarter. A year ago, the company reported a 47% increase in its average price per ad. Despite this, user advertising impressions have increased by up to 15% compared to 2021.

    Users upload

    However, not all the news is bad for Meta. After the company notified at the beginning of the year that Facebook, the platform with which it all started, had lost unique users for the first time in its history, it has managed to redirect the course and add Internet users for the second consecutive quarter. The social network, in this way, has achieved 2,930 million Internet users per month. 1% more than a year ago.

    The company hopes to be able to improve these figures with the drastic remodeling it has done to Facebook and Instagram. The two social networks are trying to reward video and content shared by accounts that the user does not follow in order to have a function and appearance that is closer to that of TikTok. The purpose is to draw the attention of the largest possible number of young Internet users, the most valuable for any social network and the most interesting for advertisers.

    Source: abc.es

    Awutar
    Awutar
    This post is posted by Awutar staff members. Awutar is a global multimedia website. It serves as a source of News, Business, Opinion, Analysis, Sports, Health, Fitness, Technology, Education, Travel, and More. If you want to get in touch with us write via: [email protected]

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