Meta Platforms, the parent company of Facebook, Instagram, and Whatsapp, on Wednesday posted its second quarter results reporting a year-over-year revenue fall.
Total revenues for the social media and tech company were $28.82 billion, a 1 percent drop from $29.07 reported for the second quarter of 2021.
Meta, which describes itself as a business that “builds technologies that help people connect, find communities, and grow businesses,” also reported $20.46 billion in total costs and expenses in the quarter ending June 30, a 22 percent increase year-over-year.
On its subsidiary social media platforms, which Meta calls its “family of apps,” the parent company saw daily active users increase 4 percent to 2.88 billion on average for June 2022….