US IT giant Meta's financial results for the three months through December last year saw a decline in corporate Internet advertising due to concerns about an economic slowdown, and income declined for the third consecutive term.
On the 1st, the old Facebook meta announced its financial results for the three months from October to December last year.
According to that, sales were 32.165 billion dollars, or about 4.14 trillion yen in Japanese yen, a 4% decrease from the same period last year.
In addition, the final profit was 4,652 million dollars, or about 600 billion yen in Japanese yen, a decrease of 54%, resulting in a decrease in revenue and profit.
This is the third consecutive year that sales have declined, mainly due
to the fact that companies are reducing Internet advertising due to concerns about the economic slowdown, and that
the competition to acquire advertisements from competing SNS such as TikTok is intensifying. That's why.
Meta, which relies on Internet advertising revenue, which is greatly affected by the economy, for most of its sales, has continued to struggle, and in November last year, it announced that it would cut more than 11,000 people, about 13% of all employees. was doing.