Meta reports fall in quarterly revenue – but still beats expectations

Facebook parent Meta has beaten estimates for its quarterly revenue, helped by its continued dominance of the online advertising market.

Revenue in the third quarter fell for a second consecutive time to $27.71bn (£23.83bn) from $29.01bn (£24.94bn).

But it was still above analysts’ expectation of $27.38bn (£23.54bn), according to Refinitiv data.

Net income fell to $4.40bn (£3.78bn), or $1.64 per share,
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