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Tough luck, Zuck! Mark Zuckerberg tumbled from third to fifth place on the Bloomberg Billionaires Index after Meta’ stock plunged 11% on Thursday — wiping out $29.2 billion from his fortune in just one day. The 41-year-old CEO’s net worth fell to $235.2 billion, his lowest ranking in nearly two years, as investors recoiled from Meta’s plan to issue $30 billion in new debt to fund artificial intelligence spending, according to Bloomberg. The drop was the fourth-largest one-day market-driven loss ever recorded by Bloomberg’s wealth index. Zuckerberg reportedly refused to clap Wednesday after singer Billie Eilish said at the Wall...

Facebook has reported its first-ever revenue miss and continued poor earnings, with forecasts expecting a second straight quarter of declining sales. The social media Masters of the Universe missed analysts’ estimates for both revenue and earnings. CNBC reports that Facebook (now known as Meta) recently reported a worse-than-expected drop in revenue, missed on earnings, and gave a weak forecast for the future. Further poor performance could see a second consecutive decline in year-over-year sales. Facebook shares fell by 5.65 percent in intraday trading on Thursday.

Facebook parent company Meta (META) reported its Q2 2022 earnings after the closing bell on Wednesday, falling shy of analysts' expectations, and missing by a wide margin on its Q3 revenue forecasts. The quarter also marked the first year-over-year revenue decline for the social media company. Net income also fell 36% year-over-year. Here are the most important numbers from the report versus what analysts were expecting, as compiled by Bloomberg. Revenue: $28.8 billion versus $28.9 billion expected Earnings per share: $2.46 versus $2.54 expected Facebook daily active users: 1.97 billion versus 1.95 billion expected