![]() ![]() The company said its outlook reflected factors including the war in Ukraine and said it was monitoring the potential impact of regulatory moves in Europe. Analysts on average were expecting current-quarter revenue of $30.63 billion. ![]() Meta forecast second-quarter revenue between $28 billion and $30 billion. Meta has also barred advertisers in Russia from creating and running ads anywhere in the world. Meta's messaging service WhatsApp is not affected by the ban. ![]() Russia banned Facebook and Instagram in March, finding Meta guilty of "extremist activity" amid Moscow's crackdown on social media during its invasion of Ukraine. On the call, Zuckerberg also echoed previous warnings about the challenges of engagement shifting toward features like its short video offering Reels, which generates less revenue than other ad formats. In a conference call with analysts on Wednesday, Chief Financial Officer Dave Wehner cited factors including a slowdown in ecommerce after rapid growth during the COVID-19 pandemic, as well as a loss of revenue in Russia and reduced ad demand amid global economic uncertainty. Total revenue, the bulk of which comes from ad sales, rose 7% to $27.91 billion in the first quarter, but missed analysts' estimates of $28.20 billion, according to IBES data from Refinitiv. A few quarters ago it could count on developing markets to keep the growth engine going but it's likely that even these high-growth opportunities are starting to dry up," she said. "However, growth in monthly active users is slowing quickly. ![]()
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