Facebook Parent Meta Poised to Report First-Ever Revenue Drop – WSJ

As markets react to inflation and high interest rates, technology stocks are having their worst start to a year on record. WSJ’s Hardika Singh explains why the sector — from tech giants to small startups — is getting hit so hard. Illustration: Jacob ReynoldsUpdated July 27, 2022 1:17 pm ETFacebook parent Meta Platforms is expected to post its biggest drop in daily users and its first decline in revenue as the company struggles to adjust to macroeconomic forces and growing competition from TikTok.The company is expected to report quarterly revenue of $28.9 billion, according to analysts surveyed by FactSet. That figure would be down 0.6% from a year prior and would represent the first time that the company has posted a quarterly drop in revenue from the year earlier.
Read More