Meta's revenue shrank for the first time in its history
for the second quarter of 2022, and it was another quarter of shrinking profits. Total revenue of $28.8 billion was only down one percent compared to Q2 one year ago, but net income dropped 36 percent to $6.7 billion. Making almost $7 billion in profit is not a bad quarter for anyone, but the size of the decline compared to a year ago is pretty significant.
In June, Meta said that it had 2.88 billion daily active users in its family of apps and 3.65 billion monthly active users, both of which are up four percent compared to a year ago. Facebook-specific growth was smaller, though — average daily and monthly users only increased three percent and one percent, respectively.
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