Meta stock plunges 11% as quarterly revenue falls for a second straight time to $29B – Facebook parent has now lost $650B in market valuation so far this year
- Meta’s quarterly report on Wednesday sent shared down more than 11%
- Revenue dropped for the second straight quarter and is expected to fall again
- Facebook’s parent company has been hammered by declining ad spending and rising costs
- They said they expect their headcount to stop growing, and revenue growth from large advertisers ‘seems challenged’
- The company said they had 1.98 billion users, an increase of 3 percent, and Mark Zuckerberg said he was confident about the future of the company
