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- Sky News
Facebook parent Meta reports weakest revenue growth for a decade as ad sales suffer
Facebook's parent company has reported its weakest revenue growth for a decade but witnessed a recovery in its share price following a torrid 2021 to date for the company. Meta Platforms recorded revenue of $27.9bn between January and March - slightly below what Wall St had expected. The company had warned at the time of its 2021 annual results in early February that revenues during the first quarter of 2022 would not meet market forecasts for several reasons, including increased competition.
- Reuters
War damage costs Ukraine's gas transit operator hundreds of millions of euros
Sergiy Makogon, CEO of the operator (OGTSU), wrote on Facebook that the company continued to distribute gas to Ukrainian consumers. But he said three main gas pipelines had been damaged, two gas distribution stations had been destroyed, 48 ​​gas distribution stations had stopped operations and four compressor stations had been seized by Russian forces. "Our material damage already amounts to hundreds of millions of euros," Makogon said on Facebook.
- Reuters
Facebook advertisers can pursue class action over ad rates
The decision by U.S. District Judge James Donato in San Francisco allows potentially millions of individuals and businesses that paid for ads on Facebook and its photo-sharing app Instagram since Aug. 15, 2014 to sue as a group. Meta did not immediately respond to a request for a comment. The lawsuit began in 2018, as DZ Reserve and other advertisers accused Facebook of inflating its advertising reach, by increasing the number of potential viewers by as much as 400%, and charging artificially high premiums for ad placements.
