$Meta Platforms, Inc.(META)$
META has entered the worst economic downturn in the company’s history, which has affected the company’s advertising business in third-quarter 2022, set to report on Oct 26.
In the second quarter of 2022, advertising revenues (99.2% of Family of Apps revenues) decreased 1.5% year over year to $28.15 billion and accounted for 97.7% of revenues.
The Russia-Ukraine war has heightened the impact of inflation that has reduced advertising demand both within Europe and outside the region. This, in turn, might have hampered Meta’s advertising revenues in the third quarter of 2022.
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