Meta, the parent company of Facebook and Instagram, saw its net profit melt to $4.4 billion in the third quarter (-52% year on year), as the social media giant faces stagnation in the number of users and cuts in advertising budgets.
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The title of the Californian group lost more than 11% on Wall Street on Wednesday during electronic trading after the closing of the Stock Exchange, even if its turnover stood at 27.7 billion dollars, (-4%), in accordance with the market expectations.