Fakebook is in the red? Not really, but...

They only made 29 billion in the quarter.

 That's well in excess of $ 100,000,000,000.00 a year in revenue. They're not exactly hurting. Not by my standards, at least...

Facebook's parent company Meta has reported an annual decline in quarterly revenue for the first time in the company's history.

Meta on Wednesday reported revenue of $28.82 billion for the second quarter, a 1 percent decline from a year ago and less than Wall Street analysts had expected.

The company also said it expects third-quarter revenue to fall further, to between $26 billion and $28.5 billion, saying that 'a continuation of the weak advertising demand' would weigh on sales.

Analysts were expecting revenue of $30.52 billion for the current quarter, according to IBES data from Refinitiv. 

 

The social media giant also reported profits of $2.46 per share, less than the consensus expectation of $2.59 per share, according to Refinitiv.

 

If you saw it as a short play at the beginning of 

this year, you're in high cotton right now...