Facebook parent Meta earnings Q2 2022

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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…