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Meta revenue dives in second quarter: Meta, formally Facebook, reported a 1% drop in quarterly revenue from 2021— the company’s first revenue decline since its market debut over a decade ago.

In its second quarter 2022 financial highlights, the company reportedly brought in $28.82 million in revenue, a figure that fell short of 2021’s second quarter, which saw an income of just under $29.1 million. 

Regardless of the hit, Meta still carries its following as a social media giant. Facebook daily active users (DAUs) increased 3% year-over-year with 1.97 billion DAUs on average as of June 30, when the quarter ended, according to Meta’s financial highlights. 

Meta has reportedly reduced hiring and overall expense growth plans this year “to account for the more challenging operating environment while continuing to direct resources toward our company priorities,” commented CFO David Wehner, who is transitioning to be the company’s chief strategy officer.

The company attributes the revenue decline to the troublesome economy and increased digital advertising competition. 

“We expect third quarter 2022 total revenue to be in the range of $26 billion-$28.5 billion. This outlook reflects a continuation of the weak advertising demand environment we experienced throughout the second quarter, which we believe is being driven by broader macroeconomic uncertainty,” Wehner said.

CrowdStrike introduced its cloud threat hunting service during the AWS re:Inforce conference, targeting advanced threats originating and operating in the cloud environments. Read more.

With the heavy stresses currently befalling the cybersecurity industry, many are looking to both human and machine-driven responses. Read more.

Backed by strong subscriber growth, T-Mobile US posted robust second-quarter service revenues, but a dip in equipment sales dropped overall revenues by just over 1% compared to the same quarter last year. Read more.

The MEF Technology Advisory Board sat on a panel this week to talk through confusion around the secure access service edge (SASE) and SD-WAN markets. As part of the 2022 MEF Members Meeting, the panel discussed how MEF service standards can help provide common language and expectations to help speed up market growth. Read more.

Inseego recently added cloud-management and increased security capabilities to its enterprise-focused networking services, highlighting a growing market push toward integrating 5G technology into SD-WAN edge devices. Read more.