(Reuters) – Facebook parent Meta Platforms Inc on Wednesday recorded its slowest revenue growth in a decade, singed by advertisers trimming marketing budgets in the face of global economic growth uncertainties and the war in Ukraine.
The company’s 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.
(Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)
