Meta revenue drops $28.8 billion in second quarter ...Middle East

Meta Platforms but its total revenues fall in the second quarter amid a downturn in the economy and increased competition for digital advertisers. Total revenue for Meta was $28.8 billion in the second quarter ending June 30, according to the earnings report released Wednesday, down one percent from the second quarter in 2021. The social media and tech company also reported total costs and expenses of $20.4 billion, a 22 percent increase year-over-year. Meta expects even lower revenue in the third quarter of the year and is forecasting total costs tor 2022 to reach up to $88 billion. Meta Chief Operating Officer Sheryl Sandberg said during an earnings call that the company was s

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