Meta’s sales slump has accelerated in recent months.Photo: josh edelson/Agence France-Presse/Getty Images
Updated Feb. 1, 2023 1:24 pm ET
Facebook parent Meta Platforms Inc. is expected to post its third quarter in a row of declining sales as it struggles with weak advertiser demand in an increasingly competitive social-media landscape.
Meta is expected to report quarterly revenue of nearly $31.6 billion, according to analysts surveyed by FactSet, or a 5.5% drop from a year earlier. The company’s sales slump has accelerated in recent months after falling less than 1% in the June quarter and around 4.5% in the three months ended in September.