The company said it expects third-quarter revenue of between $26 billion and $28.5 billion.Total revenue, which consists almost entirely of ad sales, fell 1% to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year.User growth figures showed mixed results.
Like many global companies, Meta is facing some revenue pressure from the strong dollar, as sales in foreign currencies amount to less in dollar terms. Still, the Meta results come as fortunes in online ads sales appear to be diverging between search and social media players, with the latter impacted more severely as ad buyers reeling in spending.
Snap Inc and Twitter both missed sales expectations last week and warned of an ad market slowdown in coming quarters, sparking a broad sell-off across the sector.