Meta Q2 revenue goes down as it raises Quest 2 prices, deals with VR lawsuit

Admin, Thursday, August 11, 2022
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What you need to know

  • Meta announced its financial earnings for the second quarter of 2022, posting a 1% decline in revenue compared to the same period last year.
  • The company is monetizing its products, including Reels, where mobile broadcasting is dominated by TikTok.
  • The FTC was appropriate for Meta to block its acquisition of VR studio Inside.

Meta announced its financial earnings for the second quarter of 2022 on Wednesday, disappointing investors as the company saw its revenue decline for the first time compared to the same period in 2021. Meta saw revenue of $28.82 billion, compared to $29.07 billion in the second quarter of 2021, and less than analysts’ expectations of $28.94 billion.

However, the company has seen an increase in the number of daily and monthly active users.

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