--- title: "Quarterly Reports of Meta had Caused First-Ever Revenue Decline" description: "Meta reported the second-quarter results by Wednesday that missed estimates and had also reported its first quarterly revenue decline." author: "Siddhi Shaw" published: 2022-07-28 canonical: https://www.mindstick.com/news/1806/quarterly-reports-of-meta-had-caused-first-ever-revenue-decline category: "facebook" tags: ["facebook", "revenue cycle", "stock price valuation"] reading_time: 3 minutes --- # Quarterly Reports of Meta had Caused First-Ever Revenue Decline [Facebook owner Meta Platforms](https://www.mindstick.com/news/1349/meta-owned-facebook-ceo-mark-zuckerberg-s-wealth-plunges-by-31-billion) had reported the [second-quarter results](https://www.mindstick.com/news/1786/snap-shares-got-dropped-by-25-after-the-second-quarter-results-led-to-slow-revenue-growth) by this late **Wednesday** that missed estimates and had also reported its first quarterly revenue decline. The Meta earrings reports caused the stock to fall. ``` HIGHLIGHTS Meta earrings reports have made the stocks to fall due to second-quarter decline Meta had already warned its employees to brace for a tough second half Expectation of 2022 total expenses is to range between $85 billion to $88 billion ``` The company had reported adjusted earnings of **$2.46** a share on revenue of **$28.8 billion**. Analysts had expected [Meta](https://www.mindstick.com/news/1714/novi-the-digital-wallet-of-meta-is-about-to-shut-down-from-1-september) to report earnings of **$2.54** a share on revenue of **$29 billion**. It was the first time Meta had reported its first quarterly decline from the year-ago period, down from **$29 billion**. Its [revenue](https://www.mindstick.com/news/1342/paypal-reports-major-loss-in-q4-revenue) outlook had also missed expectations. For its third quarter, Meta had expected revenue within the range of **$26 billion** to **$28.5 billion**. ![Quarterly Reports of Meta had Caused First-Ever Revenue Decline](https://www.mindstick.com/usernews/645947/195d9ffd-8108-427b-a694-3e35784af12f/images/f2aeee1e-f307-4982-8b84-30e32808fbfd.jpeg)\ In the written remarks with the Meta earnings release **Meta Chief Financial Officer David Wehner** has mentioned that '**the outlook had reflected a continuation of the weak advertising demand environment that we had experienced throughout the second quarter, that we believe would have being driven by broader macroeconomic uncertainty**.' Well, Meta stock got dropped to **2.8%** to **164.77**, during after-hours of trading on the [stock market](https://www.mindstick.com/blog/12780/the-best-route-to-enter-the-stock-market). According to the **Chief Executive Mark Zuckerberg** in the earnings release, '**we have been putting increased energy and focus around our key company priorities that would unlock both near and long term [opportunities](https://www.mindstick.com/articles/12566/mba-courses-in-delhi-ncr-offer-you-many-opportunities-galore) for Meta along with people and businesses that would use our services**.' Various media outlets have reported during late **June** that Meta had already warned its employees to brace for a tough second half. Well, the company has been coping with pressure on its core ads business. [CEO Mark Zuckerberg](https://www.mindstick.com/news/1377/meta-ceo-mark-zuckerberg-urged-by-religious-leaders-to-scrap-instagram-kids-plans) has mentioned that he had anticipated [one of the worst](https://yourviews.mindstick.com/view/30461/the-world-s-biggest-school-system-is-also-one-of-the-worst) downturns in recent times. Meta has been undergoing a serious and costly shift from [social networking](https://answers.mindstick.com/qa/32304/how-does-social-networking-affect-privacy) to the metaverse. It has been facing many other challenges as well. Well, in order to get some profit, Meta has been clipping on operational expenses. CFO Wehner has mentioned that '**we have been expecting 2022 total expenses to be within the range of $85 billion to $88 billion, lowered from our previous outlook of $87 billion to $92 billion**.' Also Read: [Meta to cut-off hiring plans girds for 'fierce, headwinds](https://www.mindstick.com/news/1704/meta-to-cut-off-hiring-plans-girds-for-fierce-headwinds) --- Original Source: https://www.mindstick.com/news/1806/quarterly-reports-of-meta-had-caused-first-ever-revenue-decline Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.