The American giant of social media Objectiveowner of Facebook, Instagram and Whatsappamong others, announced this Wednesday a collapse of its benefits by 41% in fiscal 2022, up to $23.2 billion.
Meta, which previously warned of weak cumulative results, had a slight decline in annual revenue, from 1%, up to 116.609 millionbut it was burdened by a significant increase in costs, from 23%, up to 87.665 million.
The company announced 11,000 layoffs in November and a charge of 4,610 million was recorded in the year, relating to those “restructuring efforts”which also include the cancellation of office and project leases.
While this is the first drop in its annual revenue, its share has skyrocketed as the result has exceeded expectations.
Linda Price is a tech expert at News Rebeat. With a deep understanding of the latest developments in the world of technology and a passion for innovation, Linda provides insightful and informative coverage of the cutting-edge advancements shaping our world.