{"id":21848,"date":"2022-07-29T12:49:05","date_gmt":"2022-07-29T12:49:05","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for"},"modified":"2022-07-29T12:58:09","modified_gmt":"2022-07-29T12:58:09","slug":"facebook-owner-meta-in-first-ever-sales-fall-for","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for","title":{"rendered":"Facebook owner Meta in first ever sales fall for"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>The owner of Facebook and Instagram was hit by a fall in advertising sales in the three months to July which caused the first year-on-year revenue decline in the firm\u2019s history.<\/p>\n

Meta\u2019s total revenue slipped 1% to $28.8bn (\u00a323.7bn), but the company fended off a decline in users.<\/p>\n

Analysts fear the company\u2019s growth may have peaked after years of large gains.<\/p>\n

Rivals such as TikTok have eroded its popularity, while more firms are competing for ad spending.<\/p>\n

Meta, which typically commands more than 20% of the global ad market, warned investors that ad sales were likely to fall again in the months ahead, as e-commerce spending falls from its pandemic boom and companies worried about inflation and the war in Ukraine spend more cautiously.<\/p>\n

Meta boss Mark Zuckerberg said the firm would reduce its hiring \u201csteadily\u201d over the next year, a response to the downturn and the company\u2019s plans to shift investment into new areas, including its virtual reality platform, Horizon, in a bet that the so-called metaverse is its best prospect for growth.<\/p>\n

Those plans have drawn scrutiny from regulators, including the Federal Trade Commission, America\u2019s consumer watchdog, which said it would sue to block Meta\u2019s acquisition of the virtual reality fitness company Within Unlimited, which owns the app Supernatural, over monopoly concerns.<\/p>\n

Any payoff from those plans remains years away, with Meta\u2019s struggle to increase its users a sign of limited growth in the years ahead, said Angelo Zino, senior equity analyst at CFRA Research.<\/p>\n

\u201cEssentially it\u2019s now become a low-to no-growth company,\u201d he said.<\/p>\n

Earlier this year, Facebook reported its first ever decline in daily users.<\/p>\n

In response, the company, which also owns WhatsApp, recently shifted its algorithms on Instagram and Facebook to act more like TikTok, recommending posts to users from outside the base of accounts they follow.<\/p>\n

The moves have drawn outcry from users, perhaps most prominently celebrity Kylie Jenner, who shared a post with her more than 360 million followers on Instagram this week saying \u201cMake Instagram Instagram again. (stop trying to be Tiktok I just want to see cute photos of my friends.) Sincerely, everyone\u201d.<\/p>\n

But the changes may be helping.<\/p>\n

In June, the company said 1.97 billion people logged into Facebook on average each day, up from 1.96 billion in March; and 2.88 billion into one of its apps daily, up from 2.87 billion in March.<\/p>\n

Mr Zuckerberg said he was pleased by signs that people were spending more time on the firm\u2019s apps, but profits in the quarter still dropped 36% to $6.7bn.<\/p>\n

He said the firm would continue to invest, though at a slower pace than planned.<\/p>\n

\u201cWe face a number of challenges in the near term, but the investments we\u2019re making should give us\u2026advantage over the long term,\u201d he added.<\/p>\n

\u2018Challenging conditions\u2019<\/b><\/p>\n

Meta, whose number two in command Sheryl Sandberg in June announced plans to leave the company, is not the only firm facing challenges.<\/p>\n

Alphabet, the parent company of Google and YouTube, this week reported its slowest revenue growth since the pandemic hit in 2020, with executives repeatedly warning investors that the firm was feeling the impact of economic \u201cuncertainty\u201d.<\/p>\n

Twitter also reported an unusual fall in revenue, while Snap warned of \u201cincredibly challenging\u201d conditions after its weakest quarter ever, sending shares plunging 25%.<\/p>\n

\u201cWhen you look at the ad space right now\u2026growth is deteriorating at a very fast pace, much faster than most people had anticipated,\u201d Mr Zino said.<\/p>\n

Meta\u2019s reliance on small and medium-sized businesses \u2013 which are \u201cspooked\u201d about the economy \u2013 makes it particularly vulnerable to any market slowdown, said Nikhil Lai senior analyst for performance marketing at Forrester Research.<\/p>\n

The company\u2019s fine-tuned model for targeting adverts was also disrupted last year when Apple overhauled its privacy settings.<\/p>\n

 <\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. The owner of Facebook and Instagram was hit by a fall in advertising sales in the three months to July which caused the first year-on-year revenue decline in the firm\u2019s history. Meta\u2019s total revenue slipped 1% to $28.8bn (\u00a323.7bn), but the company fended off a decline in users. Analysts fear the company\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":21847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[234,265,233],"class_list":["post-21848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nFacebook owner Meta in first ever sales fall for - South Sudan<\/title>\n<meta name=\"description\" content=\"The owner of Facebook and Instagram was hit by a fall in advertising sales in the three months to July which caused the ...\" \/>\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\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Facebook owner Meta in first ever sales fall for\" \/>\n<meta property=\"og:description\" content=\"The owner of Facebook and Instagram was hit by a fall in advertising sales in the three months to July which caused the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-29T12:49:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-29T12:58:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/07\/postQueueImg_3-62e3d94c8890d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Facebook owner Meta in first ever sales fall for\",\"datePublished\":\"2022-07-29T12:49:05+00:00\",\"dateModified\":\"2022-07-29T12:58:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for\"},\"wordCount\":648,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/07\/postQueueImg_3-62e3d94c8890d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/facebook-owner-meta-in-first-ever-sales-fall-for\",\"name\":\"Facebook owner Meta in first ever sales fall for - 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