The Facebook slowdown is looming.
The best-case scenario Meta anticipated for the second quarter was just a 3 percent revenue increase. The company provided an expected revenue range between $28 billion to $30 billion in the quarter. If it lands in the middle—$29 billion—that would be less than the $29.1 billion it made in, released Thursday, indicate the market for ad-supported social media might be troubled.
Snap missed revenue and earnings expectations, refused to offer guidance for the coming quarter, and its share price fell 26 percent in after-hours trading. Meta fell along with it, dropping 4.68 percent.If you’re bullish about Meta’s business, there’s still plenty of room for optimism. The company is wildly profitable, has potential revenue coming in once it figures out Reels (which it’s
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