Andrew Ryu - Meta Stock Falls 20% After A Rare Drop in Profits
Andrew Ryu28 Oct, 2022Finance
Facebook?s parent company, Meta, said on Wednesday that the firm has seen a drop in revenue for the second straight quarter in a press release. This was mostly due to a reduction in ad sales as a result of Facebook?s struggle to compete with TikTok, which is an extremely popular video app. Earnings for the three months that ended on September 30 were reported to be $4.4 billion, or $1.64 per share, for the corporation that has its headquarters in Menlo Park, California. According to the study done by Andrew Ryu, ?expectations for earnings per share were in the region of $1.90.?
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