Meta sees slowdown in user growth and revenues

Yesterday I wrote about Twitter reporting an increase in user.

Now, Meta is reporting a decline in monthly active Facebook users, as well as a slowdown in revenue. Pinch me if you've heard this before, as "global economic trends continue to impact" the company's overall performance.



They're still enjoying 1.97 billion daily active users, and that's nothing to laugh at. Facebook also saw a slight increase in users specifically from India and Indonesia, however usage in Europe continues to steadily decline.



As you can see, Facebook lost two million MAU overall in the period, with, again, European losses being the most significant.



In terms of revenue, Meta brought in $28.82 billion for the quarter, versus market expectations of $28.94 billion.

Again, Meta says the slowdown is due to weaker advertising demand driven by 'broader macroeconomic uncertainty', while it's also seen lower sales of its VR headsets, impacted by production delays, rising costs, etc.

Chime in.