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HomeTech55% decrease in Meta's quarterly profit

55% decrease in Meta’s quarterly profit

Tech

By: Aradhya

Published Date:

February 2, 2023

The quarterly earnings for Meta Platforms Inc. fell by 55% on Wednesday as a result of a sizable charge due to cost-cutting measures like layoffs, office closures, and a rethinking of its data centre strategy.

In the quarter that ended on December 31, net income decreased to $4.65 billion, or $1.76 per share, from $10.29 billion, or 3.67 per share, a year earlier.

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Aradhya http://thevocalnews.com

Aaradhya is working as a Sub-Editor at The Vocal News. She enjoys writing about gadgets and automobiles because she is a tech and automotive fanatic. She has done her bachelors in Journalism and Mass communication from Makhanlal Chaturvedi Rashtriya Patrakarita Vishwavidyalaya. "I write to discover what I know."

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