Goal: Profit drops 41% in 2022, to $23 billion

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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.

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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.

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While this is the first drop in its annual revenue, its share has skyrocketed as the result has exceeded expectations.

Source: Clarin

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