{"id":9287,"date":"2022-10-28T16:34:31","date_gmt":"2022-10-28T16:34:31","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/facebook-reports-sharp-drop-in-profits-in-q3"},"modified":"2022-10-28T17:43:08","modified_gmt":"2022-10-28T17:43:08","slug":"facebook-reports-sharp-drop-in-profits-in-q3","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/facebook-reports-sharp-drop-in-profits-in-q3","title":{"rendered":"Facebook reports sharp drop in profits in Q3"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Cape verde. <\/strong><\/span>The \u2018holding\u2019 Meta, which controls Facebook, presented, this Wednesday, quarterly results, with a sharp drop in profits, which happens for the second consecutive quarter, due to the drop in advertising revenues, caused by competition from the popular video platform TikTok.<\/p>\n<p>Meta\u2019s disappointing results followed similarly weak results from Google\u2019s holding company Alphabet and Microsoft this week.<\/p>\n<p>Meta\u2019s revenues in the third quarter of the year, year on year, were down four percent to $27.7 billion, but profits were down 52% to $4.4 billion.<\/p>\n<p>Some investors are concerned that Meta is spending too much money and confusing people with its focus on the Metaverse, a confusing concept of virtual and augmented reality; I few people understand, at the same time it is faced with the reduction of advertising revenue.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/cape-verde\">Cape verde<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Cape verde. The \u2018holding\u2019 Meta, which controls Facebook, presented, this Wednesday, quarterly results, with a sharp drop in profits, which happens for the second consecutive quarter, due to the drop in advertising revenues, caused by competition from the popular video platform TikTok. Meta\u2019s disappointing results followed similarly weak results from Google\u2019s holding company [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":9286,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,331,328],"class_list":["post-9287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Facebook reports sharp drop in profits in Q3 - Cape Verde<\/title>\n<meta name=\"description\" content=\"The \u2018holding\u2019 Meta, which controls Facebook, presented, this Wednesday, quarterly results, with a sharp drop in profits, ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/facebook-reports-sharp-drop-in-profits-in-q3\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Facebook reports sharp drop in profits in Q3 - 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