What's the META with Facebook's Q2 earnings?
News extract from CNBC: Screenshot of news from CNBC dated 28 July 2022 SGT Facebook parent Meta reported a steeper-than-expected drop in revenue, missed on earnings and issued a surprisingly weak forecast, pointing to a second consecutive decline in year-over-year sales. The shares dropped 3.8% in extended trading. Here’s how the company did: Earnings: $2.46 per share vs. $2.59 per share expected, according to Refinitiv Revenue: $28.82 billion vs. $28.94 billion expected, according to Refinitiv Daily Active Users (DAUs): 1.97 billion vs 1.96 billion expected, according to StreetAccount Monthly Active Users (MAUs): 2.93 vs 2.94 billion expected, according to StreetAccount Average Revenue per User (ARPU): $9.82 vs. $9.83 expected, according to StreetAccount Meta shares have lost about half their value since the beginning of the year, underscoring investor concern about the health of the company’s core online advertising business. That unit has been hurt by Apple’s iOS privacy update la...