Facebook has for the first time reported a decline in revenue.

The social network announced a 1% decline in sales for the second quarter, dropping to $28.8 billion, and forecast that revenue in the third period could fall even more.

Its parent business, Meta, had a 36 percent decline in overall profit to $6.7 billion.

The section of Reality Labs, which is in charge of realising Mark Zuckerberg's visions for the metaverse, lost $2.8 billion during the quarter.

Although the first-ever decline in sales growth was anticipated by Wall Street ahead of Wednesday's earnings announcement, it nonetheless emphasises how difficult